Selective Insurance Group (NASDAQ:SIGI) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Selective Insurance Group (NASDAQ:SIGI) announced its earnings results on Wednesday. The insurance provider reported $1.69 EPS for the quarter, missing the consensus estimate of $1.81 by ($0.12), FiscalAI reports. Selective Insurance Group had a net margin of 8.74% and a return on equity of 14.23%.

Selective Insurance Group Stock Performance

NASDAQ:SIGI traded down $3.25 during mid-day trading on Wednesday, hitting $77.63. 1,363,917 shares of the company’s stock traded hands, compared to its average volume of 561,199. The firm has a 50 day moving average of $80.03 and a two-hundred day moving average of $80.96. Selective Insurance Group has a 12 month low of $71.75 and a 12 month high of $93.38. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 10.36 and a beta of 0.26. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.

Selective Insurance Group Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Friday, February 13th were paid a dividend of $0.43 per share. The ex-dividend date was Friday, February 13th. This represents a $1.72 annualized dividend and a yield of 2.2%. Selective Insurance Group’s dividend payout ratio is presently 22.96%.

Analyst Ratings Changes

SIGI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods dropped their price target on Selective Insurance Group from $92.00 to $84.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 7th. Royal Bank Of Canada reissued an “outperform” rating and set a $95.00 price target on shares of Selective Insurance Group in a research report on Monday, March 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Selective Insurance Group in a research report on Wednesday, March 25th. Finally, Piper Sandler upped their target price on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $83.60.

Institutional Trading of Selective Insurance Group

A number of hedge funds have recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new position in shares of Selective Insurance Group in the 4th quarter worth approximately $25,000. Amundi raised its holdings in shares of Selective Insurance Group by 398.7% in the 1st quarter. Amundi now owns 389 shares of the insurance provider’s stock worth $36,000 after buying an additional 311 shares in the last quarter. Danske Bank A S acquired a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $57,000. State of Wyoming raised its holdings in shares of Selective Insurance Group by 17.7% in the 4th quarter. State of Wyoming now owns 750 shares of the insurance provider’s stock worth $63,000 after buying an additional 113 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in shares of Selective Insurance Group in the 3rd quarter worth approximately $68,000. Institutional investors own 82.88% of the company’s stock.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.