Zacks Research Has Negative Outlook for SIGI FY2024 Earnings

Selective Insurance Group, Inc. (NASDAQ:SIGI - Free Report) - Stock analysts at Zacks Research dropped their FY2024 earnings per share estimates for Selective Insurance Group in a research note issued on Thursday, December 12th. Zacks Research analyst R. Department now anticipates that the insurance provider will post earnings per share of $3.60 for the year, down from their previous estimate of $3.65. The consensus estimate for Selective Insurance Group's current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Selective Insurance Group's Q4 2025 earnings at $2.18 EPS, FY2025 earnings at $7.72 EPS, Q2 2026 earnings at $1.90 EPS, Q3 2026 earnings at $2.13 EPS and FY2026 earnings at $8.73 EPS.

Selective Insurance Group (NASDAQ:SIGI - Get Free Report) last released its earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.17 billion. Selective Insurance Group had a net margin of 5.01% and a return on equity of 8.11%. Selective Insurance Group's revenue for the quarter was up 15.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.51 earnings per share.

Several other brokerages have also issued reports on SIGI. Royal Bank of Canada boosted their price target on Selective Insurance Group from $96.00 to $99.00 and gave the company a "sector perform" rating in a research note on Wednesday, October 23rd. Morgan Stanley assumed coverage on Selective Insurance Group in a research note on Thursday, December 5th. They issued an "equal weight" rating and a $105.00 target price for the company. Bank of America lifted 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 note on Tuesday, October 22nd. Finally, BMO Capital Markets upgraded shares of Selective Insurance Group from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $95.00 to $105.00 in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $102.14.

Selective Insurance Group Stock Performance

Shares of SIGI traded up $0.78 during trading hours on Monday, reaching $97.51. 262,803 shares of the company traded hands, compared to its average volume of 352,354. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.35 and a current ratio of 0.35. The stock's fifty day moving average is $96.66 and its 200 day moving average is $93.03. Selective Insurance Group has a 1-year low of $81.00 and a 1-year high of $109.58. The stock has a market cap of $5.93 billion, a P/E ratio of 26.28 and a beta of 0.60.

Hedge Funds Weigh In On Selective Insurance Group

A number of institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in Selective Insurance Group by 38.4% in the 3rd quarter. Franklin Resources Inc. now owns 6,296 shares of the insurance provider's stock worth $603,000 after purchasing an additional 1,747 shares during the last quarter. Sanctuary Advisors LLC boosted its holdings in Selective Insurance Group by 51.9% in the third quarter. Sanctuary Advisors LLC now owns 4,211 shares of the insurance provider's stock valued at $412,000 after acquiring an additional 1,438 shares during the last quarter. Pine Valley Investments Ltd Liability Co acquired a new stake in Selective Insurance Group in the third quarter worth about $345,000. Geode Capital Management LLC increased its position in Selective Insurance Group by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,586,527 shares of the insurance provider's stock worth $148,048,000 after purchasing an additional 26,880 shares during the period. Finally, Barclays PLC lifted its position in Selective Insurance Group by 171.6% during the 3rd quarter. Barclays PLC now owns 114,790 shares of the insurance provider's stock valued at $10,711,000 after purchasing an additional 72,530 shares during the period. 82.88% of the stock is owned by institutional investors.

Insider Transactions at Selective Insurance Group

In related news, CAO Anthony D. Harnett sold 1,404 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now owns 15,946 shares in the company, valued at $1,476,759.06. This represents a 8.09 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.50% of the company's stock.

Selective Insurance Group Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a dividend of $0.38 per share. This is a positive change from Selective Insurance Group's previous quarterly dividend of $0.35. The ex-dividend date was Friday, November 15th. This represents a $1.52 annualized dividend and a dividend yield of 1.56%. Selective Insurance Group's dividend payout ratio (DPR) is presently 40.97%.

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.