First Mercantile Trust Co buys $745,987 stake in Selective Insurance Group (SIGI)

Selective Insurance Group (SIGI) : First Mercantile Trust Co scooped up 3,240 additional shares in Selective Insurance Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 19,040 shares of Selective Insurance Group which is valued at $745,987.Selective Insurance Group makes up approximately 0.10% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa reduced its stake in SIGI by selling 8,981 shares or 45.44% in the most recent quarter. The Hedge Fund company now holds 10,782 shares of SIGI which is valued at $419,528.Independent Portfolio Consultants reduced its stake in SIGI by selling 320 shares or 1.12% in the most recent quarter. The Hedge Fund company now holds 28,175 shares of SIGI which is valued at $1,096,289. Selective Insurance Group makes up approx 0.34% of Independent Portfolio Consultants’s portfolio. Eqis Capital Management sold out all of its stake in SIGI during the most recent quarter. The investment firm sold 10,413 shares of SIGI which is valued $405,170. Washington Trust Bank added SIGI to its portfolio by purchasing 61 company shares during the most recent quarter which is valued at $2,374.

Selective Insurance Group opened for trading at $38.63 and hit $39.42 on the upside on Friday, eventually ending the session at $39.18, with a gain of 1.24% or 0.48 points. The heightened volatility saw the trading volume jump to 3,26,741 shares. Company has a market cap of $2,265 M.

On the company’s financial health, Selective Insurance Group reported $0.74 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.61. The company had revenue of $568.70 million for the quarter, compared to analysts expectations of $568.23 million. The company’s revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Selective Insurance Group Inc. (the Parent) is a holding company with insurance subsidiaries. The Company operates its business through four reportable segments: Standard Commercial Lines Standard Personal Lines E&S Lines and Investments. Standard Commercial Lines consists of insurance products and services provided in the standard marketplace to its commercial customers. Standard Personal Lines consists of insurance products and services including flood insurance coverage that it writes through the National Flood Insurance Program (NFIP). E&S Lines consists of insurance products and services provided to customers who have not obtained coverage in the standard marketplace. It only writes commercial lines excess and surplus (E&S) coverages. Investments segment invests the premiums collected by its insurance segments as well as amounts generated through its capital management strategies which includes the issuance of debt and equity securities.

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