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 2.38% during the most recent quarter end. The investment management company now holds a total of 272,711 shares of Selective Insurance Group which is valued at $9.8 Million after selling 6,655 shares in Selective Insurance Group , the firm said in a disclosure report filed with the SEC on May 12, 2016.Selective Insurance Group makes up approximately 2.23% of Netols Asset Management’s portfolio.

Other Hedge Funds, Including , Piermont Capital Management reduced its stake in SIGI by selling 2,010 shares or 2.35% in the most recent quarter. The Hedge Fund company now holds 83,397 shares of SIGI which is valued at $3 Million. Selective Insurance Group makes up approx 0.98% of Piermont Capital Management’s portfolio. Tfs Capital added SIGI to its portfolio by purchasing 35,386 company shares during the most recent quarter which is valued at $1.3 Million. Selective Insurance Group makes up approx 0.19% of Tfs Capital’s portfolio.Swiss National Bank boosted its stake in SIGI in the latest quarter, The investment management firm added 18,900 additional shares and now holds a total of 95,900 shares of Selective Insurance Group which is valued at $3.4 Million. Selective Insurance Group makes up approx 0.01% of Swiss National Bank’s portfolio. Hanseatic Management Services Inc sold out all of its stake in SIGI during the most recent quarter. The investment firm sold 133 shares of SIGI which is valued $4,729.

Selective Insurance Group opened for trading at $35.4 and hit $35.9 on the upside on Friday, eventually ending the session at $35.67, with a gain of 1.51% or 0.53 points. The heightened volatility saw the trading volume jump to 1,40,458 shares. Company has a market cap of $2,056,161 M.

On the company’s financial health, Selective Insurance Group reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.58. The company had revenue of $551.50 million for the quarter, compared to analysts expectations of $555.52 million. The company’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Selective Insurance Group. Selective Insurance Group was Resumed by Keefe Bruyette to “Mkt Perform” on May 4, 2016.

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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