Tributary Capital Management buys $10,535,361 stake in Selective Insurance Group (SIGI)

Selective Insurance Group (SIGI) : Tributary Capital Management scooped up 11,966 additional shares in Selective Insurance Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 296,270 shares of Selective Insurance Group which is valued at $10,535,361.Selective Insurance Group makes up approximately 1.66% of Tributary Capital Management’s portfolio.

Selective Insurance Group opened for trading at $35.34 and hit $35.56 on the upside on Friday, eventually ending the session at $35.56, with a gain of 0.42% or 0.15 points. The heightened volatility saw the trading volume jump to 3,07,380 shares. Company has a market cap of $2,050 M.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in SIGI in the latest quarter, The investment management firm added 9,020 additional shares and now holds a total of 108,520 shares of Selective Insurance Group which is valued at $3,858,971. Selective Insurance Group makes up approx 0.01% of Rhumbline Advisers’s portfolio. Quadrant Capital Group added SIGI to its portfolio by purchasing 45 company shares during the most recent quarter which is valued at $1,562.Sii Investments Incwi boosted its stake in SIGI in the latest quarter, The investment management firm added 465 additional shares and now holds a total of 11,824 shares of Selective Insurance Group which is valued at $410,411. Selective Insurance Group makes up approx 0.04% of Sii Investments Incwi’s portfolio.Commonwealth Equity Services Inc boosted its stake in SIGI in the latest quarter, The investment management firm added 712 additional shares and now holds a total of 10,952 shares of Selective Insurance Group which is valued at $380,144.

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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