What is Zacks Research’s Forecast for SIGI FY2024 Earnings?

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Research analysts at Zacks Research dropped their FY2024 earnings estimates for shares of Selective Insurance Group in a report issued on Monday, November 11th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings per share of $3.65 for the year, down from their prior forecast of $3.77. The consensus estimate for Selective Insurance Group’s current full-year earnings is $3.66 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q4 2024 earnings at $2.02 EPS, Q1 2025 earnings at $1.95 EPS, Q2 2025 earnings at $1.75 EPS, Q3 2025 earnings at $1.85 EPS, Q4 2025 earnings at $2.22 EPS, FY2025 earnings at $7.77 EPS, Q1 2026 earnings at $2.44 EPS and Q3 2026 earnings at $2.14 EPS.

Selective Insurance Group (NASDAQ:SIGI) last released its quarterly earnings results on Monday, October 21st. The insurance provider reported $1.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.29). Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.17 billion. During the same period last year, the firm posted $1.51 earnings per share. Selective Insurance Group’s revenue was up 15.1% on a year-over-year basis.

Several other equities analysts have also issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Bank of America increased their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. Piper Sandler cut their target price on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating on the stock in a research note on Monday, July 22nd. Royal Bank of Canada increased their target price on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $95.00 to $105.00 in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $101.67.

Selective Insurance Group Stock Down 1.4 %

NASDAQ:SIGI opened at $99.84 on Tuesday. Selective Insurance Group has a 52 week low of $81.00 and a 52 week high of $109.58. The stock’s fifty day moving average is $93.08 and its two-hundred day moving average is $92.86. The stock has a market capitalization of $6.07 billion, a price-to-earnings ratio of 26.91, a price-to-earnings-growth ratio of 1.68 and a beta of 0.57. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.17.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SIGI. Westfield Capital Management Co. LP acquired a new position in Selective Insurance Group in the first quarter valued at $55,468,000. Vanguard Group Inc. boosted its position in shares of Selective Insurance Group by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 6,574,472 shares of the insurance provider’s stock valued at $717,735,000 after purchasing an additional 367,987 shares during the period. Eagle Asset Management Inc. grew its stake in Selective Insurance Group by 112.7% during the 3rd quarter. Eagle Asset Management Inc. now owns 427,180 shares of the insurance provider’s stock worth $42,667,000 after buying an additional 226,387 shares during the last quarter. Emerald Advisers LLC acquired a new position in Selective Insurance Group during the third quarter worth approximately $11,767,000. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Selective Insurance Group by 16.4% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 717,946 shares of the insurance provider’s stock valued at $66,984,000 after buying an additional 101,045 shares during the last quarter. 82.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the completion of the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.50% of the stock is owned by insiders.

Selective Insurance Group Increases Dividend

The firm 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 annualized dividend and a yield of 1.52%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. Selective Insurance Group’s dividend payout ratio is 37.74%.

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.