Selective Insurance Group (NASDAQ:SIGI) – Equities researchers at Boenning Scattergood decreased their FY2018 EPS estimates for Selective Insurance Group in a research report issued to clients and investors on Monday, October 29th, Zacks Investment Research reports. Boenning Scattergood analyst R. Farnam now expects that the insurance provider will earn $3.25 per share for the year, down from their previous estimate of $3.28. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q1 2019 earnings at $0.85 EPS, Q2 2019 earnings at $1.01 EPS, Q4 2019 earnings at $1.02 EPS, FY2019 earnings at $3.90 EPS and FY2020 earnings at $4.10 EPS.
A number of other brokerages have also recently issued reports on SIGI. Credit Suisse Group initiated coverage on shares of Selective Insurance Group in a report on Tuesday, August 7th. They issued an “underperform” rating and a $54.00 target price on the stock. BidaskClub cut shares of Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Saturday, November 3rd. ValuEngine raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Monday, October 29th. Zacks Investment Research reissued a “hold” rating on shares of Selective Insurance Group in a report on Thursday, November 15th. Finally, JMP Securities initiated coverage on shares of Selective Insurance Group in a report on Friday, November 16th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.80.
NASDAQ:SIGI traded down $0.24 during mid-day trading on Wednesday, reaching $63.33. The stock had a trading volume of 71,493 shares, compared to its average volume of 217,628. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.33 and a current ratio of 0.33. Selective Insurance Group has a 1-year low of $53.55 and a 1-year high of $67.17. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.16 and a beta of 1.09.
Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The business had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. Selective Insurance Group had a return on equity of 11.62% and a net margin of 6.34%.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be issued a $0.20 dividend. The ex-dividend date is Wednesday, November 14th. This represents a $0.80 dividend on an annualized basis and a yield of 1.26%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.18. Selective Insurance Group’s dividend payout ratio (DPR) is currently 25.72%.
In other Selective Insurance Group news, Director Paul D. Bauer sold 2,500 shares of the firm’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $64.40, for a total value of $161,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.00% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC bought a new stake in shares of Selective Insurance Group during the third quarter valued at approximately $114,000. Paloma Partners Management Co bought a new stake in shares of Selective Insurance Group during the third quarter valued at approximately $213,000. McQueen Ball & Associates Inc. bought a new stake in shares of Selective Insurance Group during the third quarter valued at approximately $219,000. First Citizens Bank & Trust Co. bought a new stake in shares of Selective Insurance Group during the second quarter valued at approximately $235,000. Finally, Private Advisor Group LLC bought a new stake in shares of Selective Insurance Group during the third quarter valued at approximately $276,000. 77.86% of the stock is currently owned by institutional investors.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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