Selective Insurance Group, Inc. (NASDAQ:SIGI – Get Free Report) declared a quarterly dividend on Wednesday, January 31st, Zacks reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.35 per share by the insurance provider on Friday, March 1st. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Wednesday, February 14th.
Selective Insurance Group has raised its dividend payment by an average of 10.0% annually over the last three years and has raised its dividend every year for the last 10 years. Selective Insurance Group has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Selective Insurance Group to earn $8.46 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 16.5%.
Selective Insurance Group Stock Performance
Shares of Selective Insurance Group stock opened at $100.08 on Monday. Selective Insurance Group has a 12 month low of $88.60 and a 12 month high of $108.18. The stock’s fifty day simple moving average is $101.49 and its 200 day simple moving average is $102.04. The company has a market capitalization of $6.06 billion, a PE ratio of 17.17, a PEG ratio of 0.72 and a beta of 0.56. The company has a current ratio of 0.30, a quick ratio of 0.31 and a debt-to-equity ratio of 0.18.
Analysts Set New Price Targets
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the company. Raymond James & Associates grew its holdings in Selective Insurance Group by 11.4% during the first quarter. Raymond James & Associates now owns 3,725 shares of the insurance provider’s stock worth $333,000 after purchasing an additional 381 shares during the period. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Selective Insurance Group by 116.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,904 shares of the insurance provider’s stock worth $528,000 after acquiring an additional 3,173 shares during the last quarter. Private Advisor Group LLC bought a new stake in Selective Insurance Group in the 1st quarter valued at $201,000. Bank of Montreal Can lifted its holdings in Selective Insurance Group by 8.6% during the 1st quarter. Bank of Montreal Can now owns 7,495 shares of the insurance provider’s stock valued at $684,000 after purchasing an additional 591 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Selective Insurance Group by 10.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 22,063 shares of the insurance provider’s stock valued at $1,972,000 after purchasing an additional 2,129 shares during the last quarter. 83.66% of the stock is currently owned by institutional investors and hedge funds.
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 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; 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; and flood insurance products.
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