Netols Asset Management Lowers stake in Selective Insurance Group (SIGI)

Selective Insurance Group (SIGI) : Netols Asset Management reduced its stake in Selective Insurance Group by 3.74% during the most recent quarter end. The investment management company now holds a total of 262,517 shares of Selective Insurance Group which is valued at $10,217,162 after selling 10,194 shares in Selective Insurance Group , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Selective Insurance Group makes up approximately 2.24% of Netols Asset Management’s portfolio.

Other Hedge Funds, Including , Columbia Partners L L C Investment Management sold out all of its stake in SIGI during the most recent quarter. The investment firm sold 64,225 shares of SIGI which is valued $2,499,637.Advisors Asset Management reduced its stake in SIGI by selling 89 shares or 2.03% in the most recent quarter. The Hedge Fund company now holds 4,295 shares of SIGI which is valued at $167,892. Lucus Advisors sold out all of its stake in SIGI during the most recent quarter. The investment firm sold 14,239 shares of SIGI which is valued $564,861. 1st Global Advisors added SIGI to its portfolio by purchasing 5,350 company shares during the most recent quarter which is valued at $212,235. Selective Insurance Group makes up approx 0.03% of 1st Global Advisors’s portfolio.

Selective Insurance Group closed down -0.08 points or -0.21% at $38.32 with 1,56,011 shares getting traded on Tuesday. Post opening the session at $38.4, the shares hit an intraday low of $38.32 and an intraday high of $38.9 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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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