Selective Insurance Group (NASDAQ:SIGI) Posts Quarterly Earnings Results, Misses Expectations By $2.59 EPS

Selective Insurance Group (NASDAQ:SIGI) announced its quarterly earnings data on Thursday. The insurance provider reported ($1.10) earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($2.59), Briefing.com reports. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Selective Insurance Group had a return on equity of 8.80% and a net margin of 5.12%. During the same quarter in the previous year, the firm earned $0.99 earnings per share.

Selective Insurance Group Stock Down 18.2 %

Shares of SIGI stock opened at $82.08 on Friday. The company has a 50 day simple moving average of $94.39 and a two-hundred day simple moving average of $99.78. The stock has a market cap of $4.99 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.75 and a beta of 0.54. Selective Insurance Group has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.18.

Selective Insurance Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Thursday, August 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.40 annualized dividend and a yield of 1.71%. Selective Insurance Group’s dividend payout ratio (DPR) is 24.74%.

Analysts Set New Price Targets

Several research firms have recently weighed in on SIGI. Bank of America decreased their price target on Selective Insurance Group from $98.00 to $97.00 and set an “underperform” rating for the company in a research note on Thursday, July 11th. JMP Securities restated a “market perform” rating on shares of Selective Insurance Group in a research note on Monday, April 15th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target on shares of Selective Insurance Group in a research note on Friday, April 5th. Royal Bank of Canada restated a “sector perform” rating and set a $103.00 price objective on shares of Selective Insurance Group in a research report on Monday, June 24th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $106.60.

Selective Insurance Group Company Profile

Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. The company operates through four segments: Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. It offers 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; property insurance products, which covers the accidental loss of an insured's real property, personal property, and/or earnings due to the property's loss; and flood insurance products.