Selective Insurance Group (NASDAQ:SIGI) declared 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 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Thursday, August 13th.
Selective Insurance Group has raised its dividend by an average of 36.1% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Selective Insurance Group has a dividend payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Equities 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%.
Selective Insurance Group stock traded down $1.19 during trading on Friday, reaching $54.16. The company had a trading volume of 4,988 shares, 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 firm’s 50-day simple moving average is $53.30 and its 200 day simple moving average is $55.27. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 17.50, a price-to-earnings-growth ratio of 9.10 and a beta of 0.73. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26.
In other Selective Insurance Group news, Director William M. Rue bought 25,000 shares of Selective Insurance Group stock in a transaction on Friday, May 29th. The shares were acquired at an average price of $52.45 per share, for a total transaction of $1,311,250.00. Following the completion of the purchase, the director now directly owns 355,170 shares in the company, valued at approximately $18,628,666.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Terrence W. Cavanaugh bought 1,000 shares of Selective Insurance Group stock in a transaction on Friday, May 15th. The stock was acquired at an average price of $50.96 per share, for a total transaction of $50,960.00. 2.00% of the stock is owned by insiders.
Several equities research analysts have recently issued reports on SIGI shares. Royal Bank of Canada reduced their target price on 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. Credit Suisse Group upgraded Selective Insurance Group from an “underperform” rating to an “outperform” rating and lifted their price target for the stock from $49.00 to $50.00 in a research report on Thursday, May 14th. Piper Sandler dropped their price target on Selective Insurance Group from $55.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, April 6th. ValuEngine lowered Selective Insurance Group from a “hold” rating to a “sell” rating in a research report on Thursday, April 30th. Finally, BidaskClub upgraded Selective Insurance Group from a “sell” rating to a “hold” rating in a research 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 given a buy rating to the company. Selective Insurance Group presently has an average rating of “Hold” and an average target price of $60.00.
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.
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