BRANCHVILLE, N.J. (AP) — BRANCHVILLE, N.J. (AP) — Selective Insurance Group Inc. (SIGI) on Thursday reported second-quarter profit of $129.4 million.
The Branchville, New Jersey-based company said it had net income of $2.11 per share. Earnings, adjusted for investment gains, came to $1.95 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.72 per share.
The insurance holding company posted revenue of $1.39 billion in the period. Its adjusted revenue was $1.38 billion, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $1.36 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SIGI at https://www.zacks.com/ap/SIGI
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