Equities Analysts Offer Predictions for SIGI FY2024 Earnings

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Equities research analysts at Zacks Research dropped their FY2024 EPS estimates for shares of Selective Insurance Group in a report issued on Thursday, December 12th. Zacks Research analyst R. Department now forecasts that the insurance provider will post earnings per share of $3.60 for the year, down from their prior forecast of $3.65. The consensus estimate for Selective Insurance Group’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q4 2025 earnings at $2.18 EPS, FY2025 earnings at $7.72 EPS, Q2 2026 earnings at $1.90 EPS, Q3 2026 earnings at $2.13 EPS and FY2026 earnings at $8.73 EPS.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada increased their target price on Selective Insurance Group from $96.00 to $99.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $95.00 to $105.00 in a report on Wednesday, October 30th. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a report on Thursday, December 5th. They issued an “equal weight” rating and a $105.00 target price on the stock. Finally, Bank of America raised their target price on Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $102.14.

Selective Insurance Group Price Performance

Selective Insurance Group stock opened at $95.30 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $5.79 billion, a P/E ratio of 25.69 and a beta of 0.60. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The stock has a fifty day moving average of $96.66 and a 200-day moving average of $93.03.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.51 EPS.

Institutional Investors Weigh In On Selective Insurance Group

Several hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Selective Insurance Group by 28.6% during the third quarter. FMR LLC now owns 5,468,801 shares of the insurance provider’s stock valued at $510,239,000 after purchasing an additional 1,216,801 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Selective Insurance Group during the 3rd quarter valued at about $37,726,000. Eagle Asset Management Inc. grew its holdings in shares of Selective Insurance Group by 112.7% in the third quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider’s stock worth $42,667,000 after acquiring an additional 226,387 shares during the period. Emerald Advisers LLC bought a new stake in shares of Selective Insurance Group during the 3rd quarter valued at about $11,767,000. Finally, Vaughan Nelson Investment Management L.P. increased its holdings in Selective Insurance Group by 16.4% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider’s stock valued at $66,984,000 after buying an additional 101,045 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Selective Insurance Group

In other Selective Insurance Group news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now owns 15,946 shares of the company’s stock, valued at $1,476,759.06. This represents a 8.09 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company’s stock.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.38 dividend. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, November 15th. Selective Insurance Group’s dividend payout ratio is presently 40.97%.

About Selective Insurance Group

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers casualty insurance products that covers the financial consequences of employee injuries in the course of employment and bodily injury and/or property damage to a third party; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.