What is Zacks Research’s Estimate for SIGI FY2024 Earnings?

Selective Insurance Group, Inc. (NASDAQ:SIGI) – Analysts at Zacks Research dropped their FY2024 earnings per share (EPS) estimates for Selective Insurance Group in a research note issued to investors on Thursday, December 12th. Zacks Research analyst R. Department now expects that the insurance provider will post earnings of $3.60 per share for the year, down from their previous forecast of $3.65. The consensus estimate for Selective Insurance Group’s current full-year earnings is $3.61 per share. Zacks Research also issued estimates for Selective Insurance Group’s Q4 2025 earnings at $2.18 EPS, FY2025 earnings at $7.72 EPS, Q2 2026 earnings at $1.90 EPS, Q3 2026 earnings at $2.13 EPS and FY2026 earnings at $8.73 EPS.

SIGI has been the subject of a number of other reports. BMO Capital Markets raised shares of Selective Insurance Group from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $95.00 to $105.00 in a research report on Wednesday, October 30th. Royal Bank of Canada lifted their price target on shares of Selective Insurance Group from $96.00 to $99.00 and gave the stock a “sector perform” rating in a report on Wednesday, October 23rd. Morgan Stanley initiated coverage on shares of Selective Insurance Group in a report on Thursday, December 5th. They set an “equal weight” rating and a $105.00 price objective on the stock. Finally, Bank of America increased their target price on Selective Insurance Group from $96.00 to $102.00 and gave the stock an “underperform” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $102.14.

Selective Insurance Group Trading Up 0.8 %

NASDAQ SIGI opened at $97.51 on Monday. Selective Insurance Group has a 12 month low of $81.00 and a 12 month high of $109.58. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $5.93 billion, a P/E ratio of 26.28 and a beta of 0.60. The business has a fifty day simple moving average of $96.66 and a 200 day simple moving average of $93.03.

Selective Insurance Group (NASDAQ:SIGI) last posted its earnings results on Monday, October 21st. The insurance provider reported $1.40 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.29). The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.17 billion. Selective Insurance Group had a return on equity of 8.11% and a net margin of 5.01%. The company’s revenue was up 15.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.51 earnings per share.

Institutional Trading of Selective Insurance Group

Several large investors have recently modified their holdings of SIGI. Quest Partners LLC increased its position in shares of Selective Insurance Group by 2,486.8% during the third quarter. Quest Partners LLC now owns 7,631 shares of the insurance provider’s stock valued at $712,000 after buying an additional 7,336 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Selective Insurance Group by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,416,957 shares of the insurance provider’s stock valued at $132,949,000 after acquiring an additional 62,699 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in Selective Insurance Group by 9.0% during the 3rd quarter. Mutual of America Capital Management LLC now owns 170,281 shares of the insurance provider’s stock valued at $15,887,000 after purchasing an additional 14,004 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Selective Insurance Group by 2.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 867,691 shares of the insurance provider’s stock worth $80,956,000 after buying an additional 21,374 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in Selective Insurance Group by 10.2% in the 3rd quarter. New York State Common Retirement Fund now owns 179,741 shares of the insurance provider’s stock worth $16,770,000 after acquiring an additional 16,689 shares during the last quarter. 82.88% of the stock is owned by institutional investors.

Insider Buying and Selling at Selective Insurance Group

In other news, CAO Anthony D. Harnett sold 1,404 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $92.61, for a total transaction of $130,024.44. Following the transaction, the chief accounting officer now directly owns 15,946 shares of the company’s stock, valued at approximately $1,476,759.06. This trade represents a 8.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.50% of the company’s stock.

Selective Insurance Group Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Friday, November 15th were issued a $0.38 dividend. This is a positive change from Selective Insurance Group’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Friday, November 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.56%. Selective Insurance Group’s dividend payout ratio is presently 40.97%.

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 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.