Selective Insurance Group, Inc. (SIGI) To Go Ex-Dividend on August 17th

Selective Insurance Group, Inc. (NASDAQ:SIGI) declared a quarterly dividend on Thursday, July 23rd. Investors of record on Monday, August 17th will be given a dividend of 0.43 per share by the insurance provider on Tuesday, September 1st. This represents a c) annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Monday, August 17th.

Selective Insurance Group has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 11 years. Selective Insurance Group has a dividend payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect Selective Insurance Group to earn $8.85 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.4%.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $96.33 on Friday. The business has a 50 day moving average price of $93.11 and a 200 day moving average price of $85.87. The company has a market capitalization of $5.77 billion, a P/E ratio of 11.95 and a beta of 0.29. Selective Insurance Group has a 1-year low of $72.78 and a 1-year high of $100.40. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.30 and a quick ratio of 0.30.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $1.95 EPS for the quarter, topping analysts’ consensus estimates of $1.66 by $0.29. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.30 billion. Selective Insurance Group had a return on equity of 14.62% and a net margin of 9.10%.During the same period in the previous year, the business earned $1.31 earnings per share. Sell-side analysts expect that Selective Insurance Group will post 7.84 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on SIGI shares. Oppenheimer lifted their price target on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Thursday, May 21st. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $84.00 to $97.00 in a research note on Thursday, May 7th. Royal Bank Of Canada raised their target price on shares of Selective Insurance Group from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Weiss Ratings upgraded shares of Selective Insurance Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, July 10th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Selective Insurance Group from $88.00 to $101.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Selective Insurance Group presently has a consensus rating of “Hold” and a consensus target price of $99.33.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.