Selective Insurance Group Announces Quarterly Dividend of $0.23 (NASDAQ:SIGI)

Selective Insurance Group (NASDAQ:SIGI) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Friday, August 14th will be paid a dividend of 0.23 per share by the insurance provider on Tuesday, September 1st. This represents a $0.92 annualized dividend and a yield of 1.69%. The ex-dividend date is Thursday, August 13th.

Selective Insurance Group has raised its dividend payment by an average of 36.1% per year over the last three years and has raised its dividend every year for the last 6 years. Selective Insurance Group has a dividend payout ratio of 28.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Selective Insurance Group to earn $4.00 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 23.0%.

NASDAQ SIGI traded down $0.91 during trading hours on Friday, hitting $54.44. 3,666 shares of the company’s stock traded hands, compared to its average volume of 243,158. Selective Insurance Group has a 52-week low of $37.05 and a 52-week high of $81.35. The company has a market capitalization of $3.25 billion, a PE ratio of 17.80, a PEG ratio of 9.10 and a beta of 0.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.32 and a quick ratio of 0.32. The firm’s 50-day moving average is $53.30 and its 200-day moving average is $55.27.

Selective Insurance Group (NASDAQ:SIGI) last announced its quarterly earnings data on Wednesday, July 29th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.03. Selective Insurance Group had a net margin of 6.73% and a return on equity of 10.08%. The company had revenue of $682.40 million during the quarter, compared to analysts’ expectations of $707.28 million. During the same quarter in the prior year, the company earned $1.16 EPS. Selective Insurance Group’s revenue was down 3.6% compared to the same quarter last year. Equities research analysts predict that Selective Insurance Group will post 3.44 earnings per share for the current fiscal year.

SIGI has been the subject of several research reports. Credit Suisse Group raised shares of Selective Insurance Group from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $49.00 to $50.00 in a research note on Thursday, May 14th. Piper Sandler decreased their target price on shares of Selective Insurance Group from $55.00 to $48.00 and set a “neutral” rating on the stock in a report on Monday, April 6th. Royal Bank of Canada decreased their target price on shares of Selective Insurance Group from $75.00 to $62.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 8th. ValuEngine lowered shares of Selective Insurance Group from a “hold” rating to a “sell” rating in a report on Thursday, April 30th. Finally, BidaskClub upgraded shares of Selective Insurance Group from a “sell” rating to a “hold” rating in a report on Friday, July 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $60.00.

In other Selective Insurance Group news, Director William M. Rue bought 25,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were purchased at an average cost of $52.45 per share, with a total value of $1,311,250.00. Following the purchase, the director now directly owns 355,170 shares in the company, valued at $18,628,666.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Terrence W. Cavanaugh bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $50.96 per share, for a total transaction of $50,960.00. Corporate insiders own 2.00% of the company’s stock.

About Selective Insurance Group

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, Excess and Surplus 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.

Recommended Story: Capital gains and your 401(k) or IRA

Dividend History for Selective Insurance Group (NASDAQ:SIGI)

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