Selective Insurance Group, Inc. (NASDAQ:SIGI) to Issue Quarterly Dividend of $0.28

Selective Insurance Group, Inc. (NASDAQ:SIGIGet Rating) declared a quarterly dividend on Wednesday, August 3rd, Zacks reports. Investors of record on Monday, August 15th will be paid a dividend of 0.28 per share by the insurance provider on Thursday, September 1st. This represents a $1.12 annualized dividend and a dividend yield of 1.45%. The ex-dividend date of this dividend is Friday, August 12th.

Selective Insurance Group has a payout ratio of 17.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Selective Insurance Group to earn $6.51 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 17.2%.

Selective Insurance Group Price Performance

Shares of Selective Insurance Group stock traded up $1.30 during trading on Friday, hitting $77.00. 3,382 shares of the company were exchanged, compared to its average volume of 397,551. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Selective Insurance Group has a fifty-two week low of $66.81 and a fifty-two week high of $94.35. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 3.88 and a beta of 0.63. The firm has a 50 day moving average price of $80.99 and a 200 day moving average price of $81.70.

Selective Insurance Group (NASDAQ:SIGIGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The insurance provider reported $1.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.03. Selective Insurance Group had a return on equity of 12.26% and a net margin of 7.73%. The firm had revenue of $846.10 million during the quarter, compared to the consensus estimate of $883.09 million. During the same period in the previous year, the firm posted $1.70 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities analysts expect that Selective Insurance Group will post 5.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Covestor Ltd increased its holdings in shares of Selective Insurance Group by 37.3% during the 1st quarter. Covestor Ltd now owns 747 shares of the insurance provider’s stock worth $67,000 after buying an additional 203 shares during the last quarter. Private Advisor Group LLC acquired a new stake in shares of Selective Insurance Group during the 1st quarter worth $201,000. Proficio Capital Partners LLC acquired a new stake in shares of Selective Insurance Group during the 1st quarter worth $230,000. Verition Fund Management LLC boosted its position in Selective Insurance Group by 7.9% during the 1st quarter. Verition Fund Management LLC now owns 2,780 shares of the insurance provider’s stock worth $248,000 after purchasing an additional 204 shares during the period. Finally, Mackenzie Financial Corp boosted its position in Selective Insurance Group by 4.6% during the 1st quarter. Mackenzie Financial Corp now owns 3,359 shares of the insurance provider’s stock worth $300,000 after purchasing an additional 147 shares during the period. 81.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Morgan Stanley started coverage on Selective Insurance Group in a report on Monday, June 27th. They issued an “overweight” rating and a $98.00 price target for the company.

Selective Insurance Group Company Profile

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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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Dividend History for Selective Insurance Group (NASDAQ:SIGI)

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