Selective Insurance Group (NASDAQ:SIGI) Releases Earnings Results, Misses Expectations By $0.55 EPS

Selective Insurance Group (NASDAQ:SIGI) issued its quarterly earnings results on Wednesday. The insurance provider reported $1.33 EPS for the quarter, missing analysts’ consensus estimates of $1.88 by ($0.55), Briefing.com reports. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Selective Insurance Group had a return on equity of 14.43% and a net margin of 8.57%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.44 earnings per share.

Selective Insurance Group Stock Performance

Shares of Selective Insurance Group stock traded down $7.16 during trading on Thursday, hitting $95.12. 424,995 shares of the stock were exchanged, compared to its average volume of 320,873. The stock’s fifty day moving average is $103.63 and its 200 day moving average is $102.75. The stock has a market cap of $5.78 billion, a PE ratio of 16.02, a P/E/G ratio of 0.75 and a beta of 0.55. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.30 and a current ratio of 0.30. Selective Insurance Group has a 12 month low of $91.99 and a 12 month high of $109.58.

Insider Transactions at Selective Insurance Group

In related news, COO Brenda M. Hall sold 2,626 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $105.88, for a total value of $278,040.88. Following the completion of the transaction, the chief operating officer now owns 10,511 shares in the company, valued at approximately $1,112,904.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

SIGI has been the subject of a number of recent research reports. JMP Securities reiterated a “market perform” rating on shares of Selective Insurance Group in a report on Monday, April 15th. Piper Sandler restated a “neutral” rating and issued a $104.00 target price on shares of Selective Insurance Group in a report on Monday, April 1st. Keefe, Bruyette & Woods lowered their target price on shares of Selective Insurance Group from $111.00 to $109.00 and set a “market perform” rating for the company in a report on Tuesday, February 6th. Oppenheimer restated an “outperform” rating and issued a $120.00 target price on shares of Selective Insurance Group in a report on Friday, April 5th. Finally, Royal Bank of Canada lowered their target price on shares of Selective Insurance Group from $108.00 to $105.00 and set a “sector perform” rating for the company in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $105.17.

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.