Value Investor
Start free

Selective Insurance Group

SIGI on Nasdaq. Selective Insurance Group sells property and casualty insurance through independent agents and brokers in the US. Market value $5.1bn.

Watch this stockFree. We tell you when something changes.

Price checks use the past 12 months to June 2026. Some use the latest annual report instead, as marked. Quality checks use five annual reports, the latest for the year to December 2025.

Should I look at this?

Worth a closer look

Why it could be worth it

What to watch out for

Nothing stood out in the numbers we check.

Read what could go wrong

This is not advice. Check the numbers below.

Compare with another stock

Return on equity
five annual reports to December 2025
13.3%five-year median

Yearly profit per dollar of owners' money: 13 cents. Above 10 is good.

Price to book
quarterly report to June 2026
1.4×

What you pay for each dollar of net assets: $1.38.

Earnings yield
past 12 months to June 2026
9.8%

Profit per $100 you pay: $9.85.

Quality score: 89 of 100. Price score: 90 of 100. Our list needs 70 on quality and 60 on price.

$84.82 a share, 17% above its 1-year low

Over the past year the price has ranged from $72.78 to $100.40.

Dividend: 1.8% a year

Paid every year for at least 5 years

Prices from Tuesday’s close (6 October).

Five years of cash, in billions

n/a
n/a
n/a
n/a
n/a
20212022202320242025
Revenue
$3.4bn$3.6bn$4.2bn$4.9bn$5.3bn
Operating margin
n/an/an/an/an/a
Debt to equity
n/an/an/an/an/a
Shares outstanding
0.06bn0.06bn0.06bn0.06bn0.06bn

Health checks

  • Free cash flow positiveDoesn't apply to banks and insurers
  • Accounting checksDoesn't apply to banks and insurers
  • DebtDoesn't apply to banks and insurers
  • Revenue growth, five yearsStrong, 12.8% a year
  • Buying back its own sharesRoughly flat

The quarter to June 2026

How the business did, compared with the same quarter a year earlier.

  • Sales: $1.4 billion last quarter, up 5% on a year ago.
  • Profit: $129 million, up 51% on a year ago.
  • Spare cash over the past 12 months: $1.2 billion, up from $1.1 billion.
  • 2% fewer shares than a year ago. Each share owns a bit more of the company.
  • Sales grew on a year ago in each of the last 4 quarters.
Sales by quarter
Sales by quarter
Quarter toAmount
September 2024$1.2bn
December 2024$1.3bn
March 2025$1.3bn
June 2025$1.3bn
September 2025$1.4bn
December 2025$1.4bn
March 2026$1.4bn
June 2026$1.4bn
Profit by quarter
Profit by quarter
Quarter toAmount
September 2024$92m
December 2024$96m
March 2025$110m
June 2025$86m
September 2025$115m
December 2025$155m
March 2026$98m
June 2026$129m

From the company's quarterly reports to the SEC.

Dates

Next results (estimated)
n/a
Last annual report (10-K)
9 February 2026
Next quarterly (estimated, 10-Q)
23 October 2026

Who owns it

1 long-term investor we follow owns it, unchanged from 1 last quarter. 374 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

4 investors own more than 5%.

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $256,545 of shares on the open market. 2 sold $2m.

  • Lanza Michael H
    EVP and General Counsel
    Sold
    Date
    28 July 2026
    Shares
    17,100
    Price
    $94.04
    Value
    $2m
  • Harnett Anthony D.
    SVP, Chief Accounting Officer
    Sold
    Date
    17 February 2026
    Shares
    1,064
    Price
    $87.33
    Value
    $92,919
  • Bacus Lisa R
    Director
    Bought
    Date
    2 February 2026
    Shares
    600
    Price
    $84.81
    Value
    $50,886
  • Harnett Anthony D.
    SVP, Chief Accounting Officer
    Sold
    Date
    2 February 2026
    Shares
    955
    Price
    $85.31
    Value
    $81,471
  • Brennan Patrick Sean
    EVP, Chief Financial Officer
    Bought
    Date
    24 October 2025
    Shares
    2,700
    Price
    $76.17
    Value
    $205,659

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the warning signs we check for were found.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 9 Feb 2026, plus the 10-Q filed 24 Jul 2026 and 5 later 8-Ks.

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

What could go wrong

Cheap for a reason is the question the numbers cannot answer.

Whether the price already reflects the risks is what the deep dive is for.

What changed in the risks this year

Companies must list what could hurt them each year. These are the parts that changed since last year’s report.

  • We are subject to complex and changing laws, regulations, and public policy debates that expose us to regulatory scrutiny, potential liabilities, increased costs, reputational harm, and other adverse effects on our business.

    Could happen
    In addition to regulatory changes, broader public policy changes and political uncertainties can have an impact on our business results. For example, (i) tariffs and related trade policy shifts can disrupt supply chains and increase costs, creating uncertainty for pricing and loss cost assumptions, and (ii) prolonged government shutdowns result in a lapse in the National Flood Insurance Program ("NFIP") , which would impact our Standard Personal Lines results.
    Read more

Read it in the annual report

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.