Selective Insurance Group, Inc. (SIGI) to Issue Quarterly Dividend of $0.43 on June 1st

Selective Insurance Group, Inc. (NASDAQ:SIGI) announced a quarterly dividend on Wednesday, April 22nd. Investors of record on Friday, May 15th will be given a dividend of 0.43 per share by the insurance provider on Monday, June 1st. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, May 15th.

Selective Insurance Group has raised its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Selective Insurance Group has a dividend payout ratio of 20.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Selective Insurance Group to earn $8.78 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 19.6%.

Selective Insurance Group Stock Performance

NASDAQ SIGI opened at $84.38 on Friday. The company has a fifty day simple moving average of $79.74 and a 200 day simple moving average of $80.96. Selective Insurance Group has a 12-month low of $71.75 and a 12-month high of $93.38. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.05 billion, a P/E ratio of 11.54 and a beta of 0.26.

Selective Insurance Group (NASDAQ:SIGI) last posted its quarterly earnings results on Wednesday, April 22nd. The insurance provider reported $1.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.81 by ($0.12). Selective Insurance Group had a net margin of 8.39% and a return on equity of 13.81%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the business posted $1.76 EPS. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. Sell-side analysts predict that Selective Insurance Group will post 7.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Selective Insurance Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in shares of Selective Insurance Group by 56.3% in the 4th quarter. AQR Capital Management LLC now owns 4,059,547 shares of the insurance provider’s stock worth $339,662,000 after buying an additional 1,462,838 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Selective Insurance Group by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,660,758 shares of the insurance provider’s stock worth $138,976,000 after buying an additional 8,580 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Selective Insurance Group by 3.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,314,692 shares of the insurance provider’s stock worth $110,004,000 after buying an additional 44,305 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Selective Insurance Group by 239.1% in the 4th quarter. First Trust Advisors LP now owns 1,036,519 shares of the insurance provider’s stock worth $86,726,000 after buying an additional 730,890 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Selective Insurance Group in the 4th quarter worth about $65,625,000. 82.88% of the stock is owned by hedge funds and other institutional investors.

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.