Selective Insurance Group (NASDAQ:SIGI) announced a quarterly dividend on Tuesday, February 5th, Wall Street Journal reports. Investors of record on Friday, February 15th will be given a dividend of 0.20 per share by the insurance provider on Friday, March 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date is Thursday, February 14th.
Selective Insurance Group has increased its dividend payment by an average of 9.1% annually over the last three years and has raised its dividend annually for the last 5 consecutive years. Selective Insurance Group has a payout ratio of 22.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Selective Insurance Group to earn $4.48 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 17.9%.
SIGI opened at $64.71 on Wednesday. The company has a current ratio of 0.31, a quick ratio of 0.33 and a debt-to-equity ratio of 0.25. Selective Insurance Group has a fifty-two week low of $53.55 and a fifty-two week high of $67.17. The stock has a market capitalization of $3.81 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.21 and a beta of 0.90.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a research report on Wednesday, February 6th. BidaskClub raised shares of Selective Insurance Group from a “hold” rating to a “buy” rating in a research report on Tuesday. Buckingham Research assumed coverage on shares of Selective Insurance Group in a research report on Friday, December 14th. They issued a “neutral” rating and a $62.00 price objective for the company. Finally, JMP Securities assumed coverage on shares of Selective Insurance Group in a research report on Friday, November 16th. They issued a “market perform” rating for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $64.25.
In other news, Director Paul D. Bauer sold 2,500 shares of the stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $64.40, for a total transaction of $161,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.
Selective Insurance Group Company Profile
Selective Insurance Group, Inc, together with its subsidiaries, provides insurance products and services in the United States. It operates in four segments: Standard Commercial Lines, Standard Personal Lines, Excess and Surplus (E&S) Lines, and Investments. The company's products and services include property insurance, which covers the financial consequences of accidental loss of an insured's real and/or personal property; and casualty insurance that covers the financial consequences of employee injuries in the course of employment, and bodily injury and/or property damage to a third party as a result of an insured's negligent acts, omissions, or legal liabilities.
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