Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) dropped 4.6% on Tuesday following a weaker than expected earnings announcement. The stock traded as low as $91.86 and last traded at $92.49. Approximately 315,265 shares were traded during trading, a decline of 9% from the average daily volume of 346,964 shares. The stock had previously closed at $96.97.
The insurance provider reported $1.40 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.12% and a return on equity of 8.75%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the previous year, the business posted $1.51 EPS. Selective Insurance Group’s revenue was up 15.1% compared to the same quarter last year.
Selective Insurance Group Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Friday, November 15th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.63%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio (DPR) is presently 38.25%.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Report on SIGI
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Selective Insurance Group in the third quarter worth about $27,000. Quest Partners LLC acquired a new position in shares of Selective Insurance Group in the second quarter worth about $28,000. GAMMA Investing LLC lifted its stake in shares of Selective Insurance Group by 81.5% in the second quarter. GAMMA Investing LLC now owns 323 shares of the insurance provider’s stock worth $30,000 after acquiring an additional 145 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Selective Insurance Group in the second quarter worth about $44,000. Finally, Fidelis Capital Partners LLC bought a new stake in Selective Insurance Group in the first quarter valued at about $48,000. Institutional investors and hedge funds own 82.88% of the company’s stock.
Selective Insurance Group Stock Performance
The company has a debt-to-equity ratio of 0.19, a current ratio of 0.32 and a quick ratio of 0.32. The stock has a market capitalization of $5.68 billion, a P/E ratio of 25.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. The company has a fifty day moving average of $91.53 and a two-hundred day moving average of $93.67.
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.
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