Selective Insurance (SIGI) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, Selective Insurance (SIGI) reported revenue of $1.09 billion, up 18.2% over the same period last year. EPS came in at $1.51, compared to $0.99 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $1.07 billion, representing a surprise of +1.72%. The company delivered an EPS surprise of -9.04%, with the consensus EPS estimate being $1.66.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Selective Insurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Underwriting expense ratio: 30.9% versus 34.2% estimated by two analysts on average.
Combined ratio: 96.8% versus the two-analyst average estimate of 95.9%.
Loss and loss expense ratio: 65.8% compared to the 61.6% average estimate based on two analysts.
Revenues- Other income: $5.20 million versus $2.75 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +79.3% change.
Revenues- Standard Commercial Lines- Net Premiums Earned: $785.30 million versus $793.79 million estimated by two analysts on average.
Revenues- Net investment income earned: $100.90 million compared to the $72.14 million average estimate based on two analysts. The reported number represents a change of +57.9% year over year.
Revenues- Excess and Surplus Lines- Net Premiums Earned: $101.40 million versus $107.61 million estimated by two analysts on average.
Revenues- Net premiums earned: $981.90 million compared to the $992.73 million average estimate based on two analysts. The reported number represents a change of +15% year over year.
Revenues- Standard Personal Lines- Net Premiums Earned: $95.20 million compared to the $91.33 million average estimate based on two analysts.
View all Key Company Metrics for Selective Insurance here>>>
Shares of Selective Insurance have returned -0.6% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Selective Insurance Group, Inc. (SIGI) : Free Stock Analysis Report
