Equities Analysts Offer Predictions for SIGI Q2 Earnings

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Stock analysts at Zacks Research boosted their Q2 2028 EPS estimates for shares of Selective Insurance Group in a report released on Tuesday, June 23rd. Zacks Research analyst Team now anticipates that the insurance provider will post earnings of $2.50 per share for the quarter, up from their previous estimate of $2.44. The consensus estimate for Selective Insurance Group’s current full-year earnings is $7.81 per share.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.12). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.29 billion. Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.71%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 EPS.

Other equities analysts have also recently issued reports about the company. Oppenheimer increased their target price on Selective Insurance Group from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Thursday, May 21st. Piper Sandler boosted their price target on Selective Insurance Group from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Tuesday, May 26th. Weiss Ratings reiterated a “hold (c)” rating on shares of Selective Insurance Group in a research report on Thursday, June 18th. BMO Capital Markets raised Selective Insurance Group from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $84.00 to $97.00 in a report on Thursday, May 7th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $95.00 target price on shares of Selective Insurance Group in a research note on Monday, March 23rd. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and a consensus target price of $91.67.

Selective Insurance Group Stock Up 1.0%

NASDAQ SIGI opened at $98.02 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.27. The stock’s 50 day moving average is $88.70 and its two-hundred day moving average is $84.34. The company has a market capitalization of $5.87 billion, a price-to-earnings ratio of 13.41 and a beta of 0.29. Selective Insurance Group has a 1-year low of $71.75 and a 1-year high of $98.68.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Cim Investment Management Inc. raised its position in shares of Selective Insurance Group by 54.3% during the first quarter. Cim Investment Management Inc. now owns 5,098 shares of the insurance provider’s stock worth $384,000 after acquiring an additional 1,793 shares during the last quarter. Bank of America Corp DE boosted its holdings in Selective Insurance Group by 2.5% in the first quarter. Bank of America Corp DE now owns 759,122 shares of the insurance provider’s stock valued at $57,230,000 after acquiring an additional 18,675 shares during the last quarter. Bull Harbor Capital LLC acquired a new stake in Selective Insurance Group in the first quarter worth about $244,000. Amundi increased its position in Selective Insurance Group by 163.6% in the first quarter. Amundi now owns 13,343 shares of the insurance provider’s stock worth $1,006,000 after purchasing an additional 8,281 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Selective Insurance Group by 27.3% during the 1st quarter. California State Teachers Retirement System now owns 73,313 shares of the insurance provider’s stock worth $5,527,000 after purchasing an additional 15,720 shares during the last quarter. 82.88% of the stock is currently owned by institutional investors.

Selective Insurance Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Friday, May 15th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.72 annualized dividend and a yield of 1.8%. Selective Insurance Group’s dividend payout ratio is currently 23.53%.

About Selective Insurance Group

Selective Insurance Group, Inc is an insurance holding company headquartered in Branchville, New Jersey. The organization traces its roots to a regional provider of property and casualty coverage and became a publicly traded holding company following its initial public offering in 1999. Since its formation, Selective has expanded through strategic acquisitions and organic growth initiatives to broaden its product offerings and strengthen its market position.

The company’s core business encompasses a broad range of property and casualty insurance products designed to serve both commercial and personal lines customers.