Selective Insurance Group, Inc. (NASDAQ:SIGI) – Equities researchers at Boenning Scattergood raised their Q3 2017 earnings estimates for shares of Selective Insurance Group in a research report issued to clients and investors on Thursday. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.83 per share for the quarter, up from their previous forecast of $0.80. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s Q4 2017 earnings at $0.73 EPS, Q1 2018 earnings at $0.75 EPS, Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.86 EPS and Q4 2018 earnings at $0.78 EPS.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, July 26th. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.05. Selective Insurance Group had a net margin of 7.37% and a return on equity of 11.14%. The firm had revenue of $614.50 million for the quarter, compared to analyst estimates of $611.62 million. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue was up 8.1% compared to the same quarter last year.

ILLEGAL ACTIVITY WARNING: “Boenning Scattergood Weighs in on Selective Insurance Group, Inc.’s Q3 2017 Earnings (SIGI)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/07/28/boenning-scattergood-weighs-in-on-selective-insurance-group-inc-s-q3-2017-earnings-sigi.html.

SIGI has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Selective Insurance Group from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $48.00 price objective on shares of Selective Insurance Group in a report on Tuesday, May 2nd. BidaskClub downgraded shares of Selective Insurance Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. ValuEngine upgraded shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $48.00 price objective on shares of Selective Insurance Group in a report on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Selective Insurance Group presently has a consensus rating of “Hold” and a consensus price target of $47.33.

Selective Insurance Group (NASDAQ SIGI) traded up 1.31% during midday trading on Friday, hitting $50.35. 18,439 shares of the stock were exchanged. The company has a 50 day moving average price of $50.79 and a 200 day moving average price of $47.56. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 17.24 and a beta of 1.45. Selective Insurance Group has a one year low of $34.95 and a one year high of $53.75.

Institutional investors have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC boosted its position in Selective Insurance Group by 5.1% in the second quarter. LS Investment Advisors LLC now owns 2,180 shares of the insurance provider’s stock valued at $109,000 after buying an additional 106 shares in the last quarter. Tyers Asset Management LLC boosted its position in Selective Insurance Group by 2.8% in the first quarter. Tyers Asset Management LLC now owns 2,464 shares of the insurance provider’s stock valued at $116,000 after buying an additional 66 shares in the last quarter. Whittier Trust Co. purchased a new position in Selective Insurance Group during the first quarter valued at $144,000. Flinton Capital Management LLC boosted its position in Selective Insurance Group by 2.8% in the first quarter. Flinton Capital Management LLC now owns 3,136 shares of the insurance provider’s stock valued at $148,000 after buying an additional 84 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Selective Insurance Group by 7.6% in the first quarter. Victory Capital Management Inc. now owns 3,750 shares of the insurance provider’s stock valued at $177,000 after buying an additional 265 shares in the last quarter. 78.18% of the stock is owned by institutional investors and hedge funds.

In related news, Director William M. Rue sold 12,000 shares of the firm’s 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 directly owns 357,164 shares of the company’s stock, valued at $18,658,247.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul D. Bauer sold 2,000 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $50.20, for a total transaction of $100,400.00. Following the completion of the transaction, the director now directly owns 76,063 shares of the company’s stock, valued at $3,818,362.60. The disclosure for this sale can be found here. Insiders sold 29,064 shares of company stock valued at $1,481,797 over the last three months. 3.00% of the stock is owned by company insiders.

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. The ex-dividend date is Friday, August 11th. This represents a $0.64 annualized dividend and a dividend yield of 1.29%. Selective Insurance Group’s dividend payout ratio is presently 22.22%.

About Selective Insurance Group

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.

Earnings History and Estimates for Selective Insurance Group (NASDAQ:SIGI)

Receive News & Ratings for Selective Insurance Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.