Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) announced a quarterly dividend on Monday, October 21st, RTT News reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.38 per share by the insurance provider on Monday, December 2nd. This represents a $1.52 annualized dividend and a yield of 1.63%. This is a boost from Selective Insurance Group’s previous quarterly dividend of $0.35.
Selective Insurance Group has raised its dividend payment by an average of 10.0% per year over the last three years. Selective Insurance Group has a payout ratio of 18.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Selective Insurance Group to earn $7.83 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 17.9%.
Selective Insurance Group Price Performance
Shares of SIGI opened at $93.32 on Wednesday. The firm has a market capitalization of $5.68 billion, a PE ratio of 25.50, a price-to-earnings-growth ratio of 1.62 and a beta of 0.56. 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 company’s fifty day moving average price is $91.53 and its 200-day moving average price is $93.67. Selective Insurance Group has a 1-year low of $81.00 and a 1-year high of $109.58.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on SIGI shares. Royal Bank of Canada reduced their price objective on Selective Insurance Group from $103.00 to $96.00 and set a “sector perform” rating for the company in a research note on Monday, July 22nd. BMO Capital Markets upped their price objective on Selective Insurance Group from $92.00 to $95.00 and gave the stock a “market perform” rating in a research report on Wednesday, July 24th. JMP Securities reaffirmed a “market perform” rating on shares of Selective Insurance Group in a research note on Tuesday, July 23rd. Piper Sandler decreased their target price on shares of Selective Insurance Group from $104.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, July 22nd. Finally, Bank of America raised their price target on shares of Selective Insurance Group from $96.00 to $102.00 and gave the company an “underperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Selective Insurance Group presently has an average rating of “Hold” and an average price target of $99.50.
Get Our Latest Stock Analysis on SIGI
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.
Further Reading
- Five stocks we like better than Selective Insurance Group
- Low PE Growth Stocks: Unlocking Investment Opportunities
- Cisco: Why Analysts Are Targeting 35% Gains by Christmas
- What is Insider Trading? What You Can Learn from Insider Trading
- How Verizon Could Offer Stress-Free Double-Digit Returns in 2025
- Differences Between Momentum Investing and Long Term Investing
- Can Roche Challenge Lilly and Novo in the Weight Loss Market?
Receive News & Ratings for Selective Insurance Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Selective Insurance Group and related companies with MarketBeat.com's FREE daily email newsletter.