Selective Insurance (SIGI) Q3 Earnings Top Estimates

Selective Insurance (SIGI) reported quarterly earnings of $2.37 per share, significantly beating the consensus estimate of $1.91 per share, representing a 24.08% earnings surprise. However, revenues of $1.35 billion slightly missed expectations by 0.6%. The stock has underperformed the S&P 500 year-to-date, gaining 8.9% versus the market's 13.3%. With a Zacks Rank #3 (Hold) rating, the stock is expected to perform in line with the market. The Insurance - Property and Casualty industry ranks in the top 29% of Zacks industries.