Selective Insurance Group (NASDAQ:SIGI) – Analysts at Boenning Scattergood lowered their Q3 2018 earnings per share (EPS) estimates for shares of Selective Insurance Group in a note issued to investors on Monday, October 22nd. Boenning Scattergood analyst R. Farnam now anticipates that the insurance provider will earn $0.77 per share for the quarter, down from their previous estimate of $0.99. Boenning Scattergood has a “Hold” rating on the stock. Boenning Scattergood also issued estimates for Selective Insurance Group’s FY2018 earnings at $3.28 EPS.
Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $666.70 million during the quarter, compared to the consensus estimate of $665.10 million. Selective Insurance Group had a return on equity of 10.69% and a net margin of 6.10%.
Shares of SIGI opened at $61.84 on Thursday. The stock has a market capitalization of $3.58 billion, a P/E ratio of 19.88, a price-to-earnings-growth ratio of 1.06 and a beta of 1.26. Selective Insurance Group has a one year low of $53.55 and a one year high of $65.93. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.26.
A number of hedge funds and other institutional investors have recently made changes to their positions in SIGI. McQueen Ball & Associates Inc. acquired a new stake in shares of Selective Insurance Group during the 3rd quarter worth approximately $219,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Selective Insurance Group during the 2nd quarter worth approximately $235,000. Ramsey Quantitative Systems raised its position in shares of Selective Insurance Group by 26.1% during the 3rd quarter. Ramsey Quantitative Systems now owns 6,229 shares of the insurance provider’s stock worth $396,000 after purchasing an additional 1,290 shares during the period. Xact Kapitalforvaltning AB raised its position in shares of Selective Insurance Group by 55.1% during the 1st quarter. Xact Kapitalforvaltning AB now owns 7,316 shares of the insurance provider’s stock worth $444,000 after purchasing an additional 2,600 shares during the period. Finally, Neuburgh Advisers LLC raised its position in shares of Selective Insurance Group by 10.4% during the 2nd quarter. Neuburgh Advisers LLC now owns 9,418 shares of the insurance provider’s stock worth $518,000 after purchasing an additional 884 shares during the period. Hedge funds and other institutional investors own 77.99% of the company’s stock.
In other news, Director Terrence W. Cavanaugh acquired 1,000 shares of the business’s stock in a transaction on Friday, August 3rd. The shares were purchased at an average price of $61.47 per share, for a total transaction of $61,470.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John J. Marchioni sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 8th. The shares were sold at an average price of $60.78, for a total value of $1,823,400.00. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 3rd. Shareholders of record on Thursday, November 15th will be paid a dividend of $0.20 per share. The ex-dividend date is Wednesday, November 14th. This represents a $0.80 annualized dividend and a yield of 1.29%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.18. Selective Insurance Group’s dividend payout ratio is presently 23.15%.
About Selective Insurance Group
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance 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.
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