Hanesbrands (HBI) Holder Brown Advisory Has Cut Position by $55.60 Million as Share Value Declined; Pinebridge Investments LP Lifted Its Position in Selective Ins Group Com (SIGI) by $1.37 Million

April 24, 2018 - By Clifton Ray

Selective Insurance Group, Inc. (NASDAQ:SIGI) Logo

Pinebridge Investments Lp increased its stake in Selective Ins Group Inc Com (SIGI) by 36.81% based on its latest 2017Q4 regulatory filing with the SEC. Pinebridge Investments Lp bought 23,542 shares as the company’s stock rose 2.59% while stock markets declined. The hedge fund held 87,493 shares of the finance company at the end of 2017Q4, valued at $5.14 million, up from 63,951 at the end of the previous reported quarter. Pinebridge Investments Lp who had been investing in Selective Ins Group Inc Com for a number of months, seems to be bullish on the $3.58B market cap company. The stock decreased 0.81% or $0.5 during the last trading session, reaching $60.95. About 44,307 shares traded. Selective Insurance Group, Inc. (NASDAQ:SIGI) has risen 26.95% since April 24, 2017 and is uptrending. It has outperformed by 15.40% the S&P500.

Brown Advisory Inc decreased its stake in Hanesbrands Inc (HBI) by 50.48% based on its latest 2017Q4 regulatory filing with the SEC. Brown Advisory Inc sold 2.78M shares as the company’s stock declined 7.94% with the market. The institutional investor held 2.73 million shares of the clothing and shoe and accessory stores company at the end of 2017Q4, valued at $57.02M, down from 5.51 million at the end of the previous reported quarter. Brown Advisory Inc who had been investing in Hanesbrands Inc for a number of months, seems to be less bullish one the $6.54 billion market cap company. The stock decreased 0.33% or $0.06 during the last trading session, reaching $18.16. About 4.39M shares traded. Hanesbrands Inc. (NYSE:HBI) has declined 8.16% since April 24, 2017 and is downtrending. It has underperformed by 19.71% the S&P500.

Investors sentiment increased to 0.85 in 2017 Q4. Its up 0.05, from 0.8 in 2017Q3. It increased, as 13 investors sold SIGI shares while 74 reduced holdings. 27 funds opened positions while 47 raised stakes. 44.19 million shares or 0.72% less from 44.51 million shares in 2017Q3 were reported. The Ohio-based Strs Ohio has invested 0.01% in Selective Insurance Group, Inc. (NASDAQ:SIGI). Swiss Bank & Trust accumulated 99,400 shares or 0.01% of the stock. Laurion Cap Management Ltd Partnership reported 17,200 shares. Cornercap Inv Counsel, Georgia-based fund reported 24,625 shares. Principal Gru Inc reported 468,025 shares stake. 717 were accumulated by Dreman Value Mngmt L L C. Prospector Prtn Ltd Llc holds 165,300 shares. State Of Alaska Department Of Revenue invested in 0.02% or 11,630 shares. Tributary Capital Mngmt Lc reported 434,736 shares. First Citizens Savings Bank, North Carolina-based fund reported 3,956 shares. Jefferies Gp Ltd Company stated it has 5,534 shares. Pitcairn Com accumulated 0.03% or 4,759 shares. Moreover, Sg Americas Securities Limited Com has 0.01% invested in Selective Insurance Group, Inc. (NASDAQ:SIGI). Johnson Financial Group Inc holds 0.01% or 1,787 shares. M&T Bancorporation has invested 0% in Selective Insurance Group, Inc. (NASDAQ:SIGI).

Pinebridge Investments Lp, which manages about $38.23B and $3.89 billion US Long portfolio, decreased its stake in Bb&T Corp Com (NYSE:BBT) by 237,283 shares to 259,169 shares, valued at $12.89 million in 2017Q4, according to the filing. It also reduced its holding in Alexion Pharmaceuticals Inc Com (NASDAQ:ALXN) by 72,134 shares in the quarter, leaving it with 6,065 shares, and cut its stake in Unifirst Corp Mass Com (NYSE:UNF).

Among 5 analysts covering Selective Insurance (NASDAQ:SIGI), 0 have Buy rating, 0 Sell and 5 Hold. Therefore 0 are positive. Selective Insurance had 18 analyst reports since July 31, 2015 according to SRatingsIntel. RBC Capital Markets maintained the shares of SIGI in report on Monday, August 28 with “Hold” rating. The stock of Selective Insurance Group, Inc. (NASDAQ:SIGI) earned “Hold” rating by Keefe Bruyette & Woods on Monday, December 4. The company was maintained on Friday, July 31 by RBC Capital Markets. RBC Capital Markets maintained it with “Outperform” rating and $40 target in Friday, October 30 report. The firm earned “Hold” rating on Monday, February 5 by Keefe Bruyette & Woods. RBC Capital Markets maintained Selective Insurance Group, Inc. (NASDAQ:SIGI) rating on Monday, October 2. RBC Capital Markets has “Hold” rating and $50.0 target. Wood reinitiated Selective Insurance Group, Inc. (NASDAQ:SIGI) on Wednesday, May 4 with “Market Perform” rating. The rating was initiated by Sandler O’Neill on Monday, January 23 with “Hold”. The firm has “Hold” rating given on Thursday, December 21 by Keefe Bruyette & Woods. Keefe Bruyette & Woods maintained the shares of SIGI in report on Tuesday, August 15 with “Hold” rating.

Analysts await Hanesbrands Inc. (NYSE:HBI) to report earnings on May, 1 after the close. They expect $0.24 EPS, down 17.24% or $0.05 from last year’s $0.29 per share. HBI’s profit will be $86.48 million for 18.92 P/E if the $0.24 EPS becomes a reality. After $0.52 actual EPS reported by Hanesbrands Inc. for the previous quarter, Wall Street now forecasts -53.85% negative EPS growth.

Among 21 analysts covering Hanesbrands (NYSE:HBI), 11 have Buy rating, 0 Sell and 10 Hold. Therefore 52% are positive. Hanesbrands had 61 analyst reports since September 17, 2015 according to SRatingsIntel. FBR Capital maintained Hanesbrands Inc. (NYSE:HBI) rating on Friday, February 3. FBR Capital has “Outperform” rating and $33 target. The rating was maintained by Stifel Nicolaus with “Hold” on Monday, September 25. The firm has “Neutral” rating by Citigroup given on Tuesday, December 19. Wells Fargo maintained Hanesbrands Inc. (NYSE:HBI) rating on Friday, February 9. Wells Fargo has “Market Perform” rating and $20 target. The rating was maintained by Morgan Stanley on Thursday, November 2 with “Equal-Weight”. As per Thursday, September 21, the company rating was downgraded by Nomura. The stock of Hanesbrands Inc. (NYSE:HBI) has “Perform” rating given on Tuesday, October 24 by Oppenheimer. The rating was maintained by Barclays Capital with “Overweight” on Thursday, January 25. Stifel Nicolaus maintained Hanesbrands Inc. (NYSE:HBI) on Friday, February 3 with “Hold” rating. Stifel Nicolaus maintained the stock with “Hold” rating in Thursday, November 2 report.

Investors sentiment decreased to 1.11 in 2017 Q4. Its down 0.04, from 1.15 in 2017Q3. It dived, as 75 investors sold HBI shares while 173 reduced holdings. 79 funds opened positions while 197 raised stakes. 337.77 million shares or 0.93% more from 334.65 million shares in 2017Q3 were reported. First State Bank Of Omaha holds 0.18% or 29,326 shares. Plante Moran Financial Limited Company holds 0% in Hanesbrands Inc. (NYSE:HBI) or 289 shares. 893,262 are owned by Credit Suisse Ag. Numeric Investors Ltd Liability Co has 0% invested in Hanesbrands Inc. (NYSE:HBI). Mesirow Fincl Invest Management has invested 0.06% in Hanesbrands Inc. (NYSE:HBI). Patten Group Incorporated Incorporated reported 58,294 shares. First Personal Finance Serv invested in 448 shares or 0% of the stock. M&R Cap Management stated it has 0% in Hanesbrands Inc. (NYSE:HBI). Whittier Tru reported 2,648 shares. Veritable Lp has invested 0.03% of its portfolio in Hanesbrands Inc. (NYSE:HBI). Robeco Institutional Asset Mngmt Bv stated it has 31,192 shares or 0% of all its holdings. The Arkansas-based Ifrah Fin has invested 0.34% in Hanesbrands Inc. (NYSE:HBI). Virginia-based Redmond Asset Mngmt Lc has invested 0.69% in Hanesbrands Inc. (NYSE:HBI). Cetera Advsrs Limited Liability accumulated 0.05% or 41,527 shares. Miller Howard Incorporated New York has 2.11M shares.

Since February 15, 2018, it had 0 buys, and 1 sale for $1.07 million activity.

Brown Advisory Inc, which manages about $31.59 billion US Long portfolio, upped its stake in Alarm Com Hldgs Inc by 683,743 shares to 820,167 shares, valued at $30.96 million in 2017Q4, according to the filing. It also increased its holding in Fulton Finl Corp Pa (NASDAQ:FULT) by 38,439 shares in the quarter, for a total of 88,072 shares, and has risen its stake in Cabot Oil & Gas Corp (NYSE:COG).

Selective Insurance Group, Inc. (NASDAQ:SIGI) Institutional Positions Chart

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