Zacks Research Weighs in on Selective Insurance Group, Inc.’s Q3 2024 Earnings (NASDAQ:SIGI)

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Investment analysts at Zacks Research increased their Q3 2024 earnings estimates for shares of Selective Insurance Group in a research report issued on Thursday, June 20th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings of $1.81 per share for the quarter, up from their prior forecast of $1.80. The consensus estimate for Selective Insurance Group’s current full-year earnings is $6.84 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q3 2025 earnings at $1.82 EPS.

Selective Insurance Group (NASDAQ:SIGI) last issued its quarterly earnings data on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55). The firm had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.44 EPS.

Other equities analysts have also recently issued research reports about the stock. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Piper Sandler reaffirmed a “neutral” rating and set a $104.00 price target on shares of Selective Insurance Group in a research report on Monday, April 1st. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $120.00 price target on shares of Selective Insurance Group in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and an average target price of $107.60.

Selective Insurance Group Stock Performance

Shares of SIGI stock opened at $92.52 on Monday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group has a one year low of $89.78 and a one year high of $109.58. The company’s 50-day simple moving average is $97.09 and its 200-day simple moving average is $100.69. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.84 and a beta of 0.55.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, May 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.51%. Selective Insurance Group’s payout ratio is currently 24.74%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Selective Insurance Group by 5.9% during the first quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock valued at $717,735,000 after acquiring an additional 367,987 shares during the period. Wellington Management Group LLP increased its stake in shares of Selective Insurance Group by 188.2% during the fourth quarter. Wellington Management Group LLP now owns 1,450,417 shares of the insurance provider’s stock valued at $144,287,000 after acquiring an additional 947,147 shares during the period. Victory Capital Management Inc. increased its stake in shares of Selective Insurance Group by 14.4% during the fourth quarter. Victory Capital Management Inc. now owns 1,190,389 shares of the insurance provider’s stock valued at $118,420,000 after acquiring an additional 149,901 shares during the period. Boston Trust Walden Corp increased its stake in shares of Selective Insurance Group by 1.8% during the fourth quarter. Boston Trust Walden Corp now owns 983,020 shares of the insurance provider’s stock valued at $97,791,000 after acquiring an additional 17,800 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Selective Insurance Group by 2.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 811,919 shares of the insurance provider’s stock worth $80,770,000 after buying an additional 17,657 shares in the last quarter. Institutional investors and hedge funds own 82.88% of the company’s stock.

About Selective Insurance Group

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.