Selective Insurance Group, Inc. (NASDAQ:SIGI) – Piper Sandler raised their Q2 2021 earnings estimates for shares of Selective Insurance Group in a research report issued to clients and investors on Thursday, April 29th. Piper Sandler analyst P. Newsome now forecasts that the insurance provider will earn $1.54 per share for the quarter, up from their prior estimate of $1.33. Piper Sandler also issued estimates for Selective Insurance Group’s Q4 2021 earnings at $1.35 EPS, FY2021 earnings at $5.00 EPS, Q1 2022 earnings at $0.94 EPS, Q2 2022 earnings at $1.44 EPS, Q3 2022 earnings at $1.31 EPS, Q4 2022 earnings at $1.41 EPS and FY2022 earnings at $5.10 EPS.
SIGI has been the topic of several other reports. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating and set a $77.00 price objective on the stock. in a research note on Monday, April 5th. JMP Securities raised their price target on Selective Insurance Group from $72.00 to $80.00 and gave the company a “market outperform” rating in a research note on Thursday, April 22nd. Royal Bank of Canada raised their price target on Selective Insurance Group from $67.00 to $71.00 and gave the company a “sector perform” rating in a research note on Thursday, April 8th. Finally, Boenning Scattergood restated a “neutral” rating on shares of Selective Insurance Group in a research note on Tuesday, January 26th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $74.75.
Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Wednesday, April 28th. The insurance provider reported $1.70 EPS for the quarter, topping the consensus estimate of $0.97 by $0.73. The business had revenue of $803.90 million during the quarter, compared to analyst estimates of $756.43 million. Selective Insurance Group had a return on equity of 9.84% and a net margin of 7.05%. The company’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share.
Several institutional investors and hedge funds have recently bought and sold shares of SIGI. Salem Investment Counselors Inc. grew its holdings in shares of Selective Insurance Group by 416.7% during the fourth quarter. Salem Investment Counselors Inc. now owns 372 shares of the insurance provider’s stock worth $25,000 after buying an additional 300 shares during the last quarter. Inspire Advisors LLC purchased a new position in shares of Selective Insurance Group during the fourth quarter worth about $26,000. CI Investments Inc. grew its holdings in shares of Selective Insurance Group by 405.4% during the fourth quarter. CI Investments Inc. now owns 1,415 shares of the insurance provider’s stock worth $95,000 after buying an additional 1,135 shares during the last quarter. D.A. Davidson & CO. purchased a new position in shares of Selective Insurance Group during the fourth quarter worth about $204,000. Finally, LS Investment Advisors LLC purchased a new position in shares of Selective Insurance Group during the fourth quarter worth about $206,000. Institutional investors and hedge funds own 79.63% of the company’s stock.
In other news, Director Gregory E. Murphy sold 32,388 shares of Selective Insurance Group stock in a transaction dated Friday, April 30th. The stock was sold at an average price of $75.59, for a total transaction of $2,448,208.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Cynthia S. Nicholson sold 1,454 shares of Selective Insurance Group stock in a transaction dated Monday, March 8th. The stock was sold at an average price of $74.08, for a total value of $107,712.32. 2.00% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Thursday, May 13th. Selective Insurance Group’s dividend payout ratio (DPR) is currently 22.73%.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The company offers property insurance products, which covers the financial consequences of accidental loss of an insured's real and/or personal property, or earnings; and 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 as a result of an insured's negligent acts, omissions, or legal liabilities, as well as flood insurance products.
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