Q2 2024 EPS Estimates for Selective Insurance Group, Inc. (NASDAQ:SIGI) Decreased by Analyst

Selective Insurance Group, Inc. (NASDAQ:SIGIFree Report) – Analysts at Zacks Research lowered their Q2 2024 earnings per share estimates for Selective Insurance Group in a research report issued to clients and investors on Friday, May 24th. Zacks Research analyst R. Department now expects that the insurance provider will earn $1.65 per share for the quarter, down from their prior estimate of $1.67. The consensus estimate for Selective Insurance Group’s current full-year earnings is $6.87 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q4 2024 earnings at $2.05 EPS, FY2024 earnings at $6.83 EPS, Q2 2025 earnings at $1.91 EPS, Q3 2025 earnings at $1.81 EPS, Q4 2025 earnings at $2.39 EPS, FY2025 earnings at $8.04 EPS and FY2026 earnings at $9.63 EPS.

Selective Insurance Group (NASDAQ:SIGIGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The insurance provider reported $1.33 EPS for the quarter, missing the consensus estimate of $1.88 by ($0.55). The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 13.73% and a net margin of 8.02%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.44 EPS.

SIGI has been the subject of a number of other reports. Oppenheimer reaffirmed an “outperform” rating and set a $120.00 target price on shares of Selective Insurance Group in a research report on Friday, April 5th. Royal Bank of Canada lowered their price objective on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a research note on Friday, February 2nd. JMP Securities reissued a “market perform” rating on shares of Selective Insurance Group in a research report on Monday, April 15th. Keefe, Bruyette & Woods reduced their price target on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Finally, Piper Sandler reiterated a “neutral” rating and set a $104.00 price objective on shares of Selective Insurance Group in a research note on Monday, April 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Selective Insurance Group has a consensus rating of “Hold” and a consensus target price of $105.17.

View Our Latest Research Report on Selective Insurance Group

Selective Insurance Group Stock Performance

Shares of NASDAQ:SIGI opened at $96.60 on Monday. Selective Insurance Group has a one year low of $92.06 and a one year high of $109.58. The firm has a market cap of $5.87 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.87 and a beta of 0.55. The firm’s 50 day simple moving average is $101.32 and its 200-day simple moving average is $101.84. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30.

Institutional Investors Weigh In On Selective Insurance Group

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. grew its position in Selective Insurance Group by 68.9% during the 4th quarter. Blue Trust Inc. now owns 255 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 104 shares during the period. Rise Advisors LLC acquired a new stake in Selective Insurance Group in the first quarter valued at approximately $27,000. Fidelis Capital Partners LLC purchased a new stake in shares of Selective Insurance Group in the first quarter valued at approximately $48,000. Headinvest LLC acquired a new position in shares of Selective Insurance Group during the 3rd quarter worth approximately $62,000. Finally, Burkett Financial Services LLC purchased a new position in shares of Selective Insurance Group during the 4th quarter valued at approximately $75,000. 82.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Selective Insurance Group

In other Selective Insurance Group news, COO Brenda M. Hall sold 2,626 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the sale, the chief operating officer now owns 10,511 shares of the company’s stock, valued at $1,112,904.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.00% of the company’s stock.

Selective Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date is Tuesday, May 14th. Selective Insurance Group’s dividend payout ratio is currently 24.74%.

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. 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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Earnings History and Estimates for Selective Insurance Group (NASDAQ:SIGI)

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