Wall Street brokerages forecast that Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Rating) will post $907.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Selective Insurance Group’s earnings, with estimates ranging from $899.99 million to $914.30 million. Selective Insurance Group posted sales of $830.40 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.2%. The company is scheduled to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Selective Insurance Group will report full year sales of $3.25 billion for the current year, with estimates ranging from $2.80 billion to $3.70 billion. For the next year, analysts expect that the firm will report sales of $4.04 billion, with estimates ranging from $4.01 billion to $4.07 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Selective Insurance Group.
Selective Insurance Group (NASDAQ:SIGI – Get Rating) last posted its earnings results on Wednesday, May 4th. The insurance provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.04. Selective Insurance Group had a return on equity of 13.77% and a net margin of 10.19%. The business had revenue of $846.10 million for the quarter, compared to analysts’ expectations of $883.09 million. During the same quarter in the previous year, the firm earned $1.70 earnings per share. The business’s revenue was up 5.2% compared to the same quarter last year.
Several brokerages recently issued reports on SIGI. StockNews.com began coverage on Selective Insurance Group in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research cut Selective Insurance Group from a “buy” rating to a “hold” rating and set a $82.00 price target on the stock. in a research report on Wednesday, May 11th. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $84.20.
SIGI opened at $77.01 on Thursday. The business’s 50-day simple moving average is $84.90 and its 200-day simple moving average is $81.49. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Selective Insurance Group has a one year low of $73.90 and a one year high of $94.35. The stock has a market capitalization of $4.65 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 4.50 and a beta of 0.83.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Monday, May 16th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.45%. The ex-dividend date is Friday, May 13th. Selective Insurance Group’s dividend payout ratio is presently 19.86%.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Selective Insurance Group by 0.3% in the 1st quarter. BlackRock Inc. now owns 6,857,220 shares of the insurance provider’s stock valued at $612,760,000 after purchasing an additional 18,339 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Selective Insurance Group by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 5,745,697 shares of the insurance provider’s stock valued at $513,435,000 after purchasing an additional 74,813 shares in the last quarter. State Street Corp boosted its holdings in Selective Insurance Group by 6.2% in the 1st quarter. State Street Corp now owns 2,002,044 shares of the insurance provider’s stock valued at $178,903,000 after purchasing an additional 116,106 shares in the last quarter. Champlain Investment Partners LLC boosted its holdings in Selective Insurance Group by 1.1% in the 4th quarter. Champlain Investment Partners LLC now owns 1,522,240 shares of the insurance provider’s stock valued at $124,732,000 after purchasing an additional 17,120 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Selective Insurance Group by 1.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,470,034 shares of the insurance provider’s stock worth $131,367,000 after acquiring an additional 21,396 shares in the last quarter. 81.37% of the stock is currently owned by institutional investors.
About Selective Insurance Group (Get Rating)
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 property, personal property, and/or earnings due to the property’s loss; 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 well as flood insurance products.
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