Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) declared a quarterly dividend on Tuesday, April 21st. Investors of record on Friday, May 15th will be given a dividend of 0.43 per share by the insurance provider on Monday, June 1st. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, May 15th.
Selective Insurance Group has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Selective Insurance Group has a payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Selective Insurance Group to earn $8.83 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.5%.
Selective Insurance Group Price Performance
Selective Insurance Group stock opened at $85.89 on Wednesday. The business’s 50-day simple moving average is $79.67 and its 200 day simple moving average is $81.04. The stock has a market cap of $5.14 billion, a price-to-earnings ratio of 11.75 and a beta of 0.32. Selective Insurance Group has a 12-month low of $71.75 and a 12-month high of $91.63. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.27.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on SIGI. Piper Sandler raised their target price on Selective Insurance Group from $79.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, February 2nd. Keefe, Bruyette & Woods raised their target price on Selective Insurance Group from $84.00 to $88.00 and gave the stock a “market perform” rating in a report on Friday, April 24th. Royal Bank Of Canada restated an “outperform” rating and set a $95.00 target price on shares of Selective Insurance Group in a report on Monday, March 23rd. BMO Capital Markets upgraded Selective Insurance Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $84.00 to $97.00 in a report on Thursday, May 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Selective Insurance Group in a report on Wednesday, March 25th. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $87.60.
Check Out Our Latest Research Report on Selective Insurance Group
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.
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