Selective Insurance Group, Inc. (SIGI) Releases Earnings Results, Misses Estimates By $0.05 EPS
Selective Insurance Group, Inc. (NASDAQ:SIGI) issued its quarterly earnings results on Wednesday. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.73 by $0.05, Briefing.com reports. Selective Insurance Group had a return on equity of 11.14% and a net margin of 7.37%. The business had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. During the same quarter last year, the firm earned $0.74 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year.
Shares of Selective Insurance Group (SIGI) traded down 1.36% on Wednesday, hitting $50.60. The company had a trading volume of 205,112 shares. The company has a market capitalization of $2.95 billion, a P/E ratio of 17.33 and a beta of 1.45. The firm has a 50-day moving average price of $50.79 and a 200 day moving average price of $47.55. Selective Insurance Group has a 12-month low of $34.95 and a 12-month high of $53.75.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.26%. Selective Insurance Group’s payout ratio is 21.92%.
In other news, Director A David Brown sold 6,275 shares of Selective Insurance Group stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $50.49, for a total value of $316,824.75. Following the transaction, the director now owns 21,650 shares in the company, valued at approximately $1,093,108.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William M. Rue sold 12,000 shares of Selective Insurance Group stock in a transaction on Monday, May 1st. The shares were sold at an average price of $52.24, for a total value of $626,880.00. Following the completion of the transaction, the director now owns 357,164 shares in the company, valued at approximately $18,658,247.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 29,064 shares of company stock worth $1,481,797. Corporate insiders own 3.00% of the company’s stock.
A number of research analysts have recently commented on SIGI shares. Zacks Investment Research upgraded Selective Insurance Group from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Thursday, April 13th. BidaskClub lowered Selective Insurance Group from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada restated a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a research note on Wednesday, July 12th. ValuEngine upgraded Selective Insurance Group from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $48.00 target price on shares of Selective Insurance Group in a research note on Tuesday, May 2nd. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Selective Insurance Group presently has an average rating of “Hold” and an average target price of $47.33.
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Selective Insurance Group Company Profile
Selective Insurance Group, Inc is a holding company. As of December 31, 2016, the Company had 10 insurance subsidiaries, nine of which were licensed by various state departments of insurance to write specific lines of property and casualty insurance business. The remaining subsidiary is authorized by various state insurance departments to write property and casualty insurance in the excess and surplus lines (E&S) market.
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