BRANCHVILLE, N.J. (AP) _ Selective Insurance Group Inc. (SIGI) on Tuesday reported first-quarter earnings of $15.2 million.
The Branchville, New Jersey-based company said it had net income of 25 cents per share. Earnings, adjusted for investment costs, were 84 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 96 cents per share.
The insurance holding company posted revenue of $664.8 million in the period. Its adjusted revenue was $709.5 million.
Selective Insurance shares have fallen 25% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $48.87, a decline of 32% in the last 12 months.