Copper Rock Capital Partners Lowers stake in Selective Insurance Group (SIGI)

Selective Insurance Group (SIGI) : Copper Rock Capital Partners reduced its stake in Selective Insurance Group by 0.51% during the most recent quarter end. The investment management company now holds a total of 588,664 shares of Selective Insurance Group which is valued at $20.4 Million after selling 3,042 shares in Selective Insurance Group according to a report filed by the company on Apr 5, 2016 with the SEC.Selective Insurance Group makes up approximately 1.79% of Copper Rock Capital Partners’s portfolio.

On the company’s financial health, Selective Insurance Group reported $0.78 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Feb 4, 2016. Analyst had a consensus of $0.71. The company had revenue of $545.60 million for the quarter, compared to analysts expectations of $548.32 million. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 EPS.

Selective Insurance Group closed down -0.3 points or -0.86% at $34.58 with 1,41,857 shares getting traded on Monday. Post opening the session at $34.99, the shares hit an intraday low of $34.58 and an intraday high of $35.26 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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