Octave Specialty Group Inc. (OSG)
NYSE · Surety Insurance · Finance, insurance and real estate · CIK 874501 · fiscal year ends in Dec
Closing price $5.05 on 30 Oct 2026; 52-week range $3.94 to $10.08.
Key figures
The last twelve months reported, with the latest price and balance sheet.
- Revenue, last twelve months
- $320.7M
- Revenue growth
- 26.8%
- Net income, last twelve months
- -$160.7M
- Earnings per share
- -$3.65
- Operating margin
- -24.3%
- Net margin
- -50.1%
- Return on equity
- -23.0%
- Market value
- $227.3M
- Cash
- $79.1M
- Debt
- $155.5M
- Debt to equity
- 0.22
- Shares outstanding
- 45.0M
Financial statements
Revenue, profit and cash flow by fiscal year, each year linked to its annual report.
| Fiscal year | Year end | Revenue | Operating income | Net income | EPS | Free cash flow | Filing |
|---|---|---|---|---|---|---|---|
| FY2025 | 31 Dec 2025 | $251.2M | -$101.0M | -$259.1M | -$5.93 | – | 10-K filed 4 Mar 2026 |
| FY2024 | 31 Dec 2024 | $235.8M | -$59.8M | -$556.1M | -$10.71 | – | 10-K filed 6 Mar 2025 |
| FY2023 | 31 Dec 2023 | $124.7M | -$24.2M | $5.0M | $0.18 | – | 10-K filed 27 Feb 2024 |
| FY2022 | 31 Dec 2022 | $53.6M | -$35.7M | $522.0M | $11.31 | – | 10-K filed 1 Mar 2023 |
| FY2021 | 31 Dec 2021 | $282.0M | $1.0M | -$17.0M | -$0.61 | – | 10-K filed 24 Feb 2022 |
By quarter
| Quarter | Quarter end | Revenue | Net income | EPS |
|---|---|---|---|---|
| Q2 FY2026 | 30 Jun 2026 | $83.0M | -$12.2M | -$0.33 |
| Q1 FY2026 | 31 Mar 2026 | $104.2M | -$6.9M | -$0.13 |
| Q4 FY2025 | 31 Dec 2025 | $66.9M | -$29.0M | -$0.84 |
| Q3 FY2025 | 30 Sep 2025 | $66.6M | -$112.6M | -$2.35 |
| Q2 FY2025 | 30 Jun 2025 | $55.0M | -$73.0M | -$1.51 |
| Q1 FY2025 | 31 Mar 2025 | $62.8M | -$46.4M | -$1.22 |
| Q4 FY2024 | 31 Dec 2024 | $65.2M | -$548.3M | -$10.23 |
| Q3 FY2024 | 30 Sep 2024 | $70.0M | -$27.5M | -$0.63 |
Revenue by segment
As the company reports it in the segment note of its annual report.
By business, FY2025
| Segment | Revenue | Share |
|---|---|---|
| Insurance Distribution | $163.7M | 64.9% |
| Specialty Property & Casualty Program | $88.4M | 35.1% |
By region, FY2025
| Segment | Revenue | Share |
|---|---|---|
| United States | $172.3M | 68.6% |
| United Kingdom | $78.9M | 31.4% |
Company events
The newest 8-K filings of 284 held.
| Filed | Form | Event | Items |
|---|---|---|---|
| 6 Aug 2026 | 8-K | Results | 2.02, 9.01 |
| 29 May 2026 | 8-K | Shareholder vote | 5.07 |
| 6 May 2026 | 8-K | Results | 2.02, 9.01 |
| 7 Apr 2026 | 8-K | Material agreement, New debt | 1.01, 2.03, 9.01 |
| 23 Feb 2026 | 8-K | Results | 2.02, 9.01 |
| 15 Dec 2025 | 8-K | Auditor change | 4.01, 9.01 |
| 10 Nov 2025 | 8-K | Bylaws or fiscal year change | 5.03, 9.01 |
| 10 Nov 2025 | 8-K | Results | 2.02, 9.01 |
| 3 Nov 2025 | 8-K | Deal completed, Material agreement, New debt, Investor update | 1.01, 2.01, 2.03, 7.01, 9.01 |
| 30 Sep 2025 | 8-K | Leadership change | 5.02 |
| 29 Sep 2025 | 8-K | Leadership change | 5.02, 9.01 |
| 29 Sep 2025 | 8-K | Material agreement, Investor update | 1.01, 7.01, 9.01 |
Every filing
The newest filings with the SEC of 691 held.
| Filed | Form | Period |
|---|---|---|
| 6 Aug 2026 | S-8 | – |
| 6 Aug 2026 | S-8 POS | – |
| 6 Aug 2026 | 10-Q | 30 Jun 2026 |
| 6 Aug 2026 | 8-K | 6 Aug 2026 |
| 29 May 2026 | 8-K | 28 May 2026 |
| 14 May 2026 | DEFA14A | – |
| 6 May 2026 | 10-Q | 31 Mar 2026 |
| 6 May 2026 | 8-K | 6 May 2026 |
| 10 Apr 2026 | ARS | 31 Dec 2025 |
| 10 Apr 2026 | DEFA14A | – |
| 10 Apr 2026 | DEF 14A | 31 Dec 2025 |
| 7 Apr 2026 | 8-K | 1 Apr 2026 |
Insider trades
Form 4 trades by officers, directors and 10% owners, last 12 months.
| Traded | Insider | Type | Shares | Price | Value | Held after | Form 4 |
|---|---|---|---|---|---|---|---|
| 2 Jan 2026 | Leblanc Claude, Chief Executive Officer | Purchase | 12,000 | $7.59 | $91.1K | 1,033,777 | 5 Jan 2026 |
| 12 Nov 2025 | Smith R Sharon, Exec VP & Group COO | Purchase | 20 | $10.25 | $205 | 170,952 | 14 Nov 2025 |
Large holders
Schedule 13D and 13G filings by holders of more than 5% of the voting shares.
| Filed | Holder | Schedule | Stake | Shares |
|---|---|---|---|---|
| 30 Oct 2026 | Vanguard Capital Management | 13G amended | 4.8% | 2.2M |
| 27 Oct 2026 | BlackRock Portfolio Management LLC | 13G | 6.5% | 2.9M |
| 31 Jul 2026 | Vanguard Capital Management | 13G | 5.04% | 2.3M |
| 11 May 2026 | JANE STREET GROUP, LLC | 13G amended | 1.7% | 771.4K |
| 11 May 2026 | Western Standard LLC | 13G amended | 4.99% | 2.2M |
| 27 Mar 2026 | The Vanguard Group | 13G amended | 0% | 0 |
| 12 Feb 2026 | Western Standard LLC | 13G | 5.87% | 2.6M |
| 11 Feb 2026 | JANE STREET GROUP, LLC | 13G | 5.4% | 2.4M |
| 13 Nov 2025 | G1 Execution Services, LLC | 13G amended | 2.2% | 1.0M |
Short interest
Shares sold short and not yet bought back, on each FINRA settlement date.
| Settlement | Shares short | Change | Days to cover |
|---|---|---|---|
| 15 Oct 2026 | 1.4M | -3.32% | 2.35 |
| 30 Sep 2026 | 1.4M | -18.81% | 3.01 |
| 15 Sep 2026 | 1.7M | +0.42% | 3.09 |
| 31 Aug 2026 | 1.7M | +10.38% | 3.73 |
| 14 Aug 2026 | 1.6M | +8.17% | 2.61 |
| 31 Jul 2026 | 1.4M | +1.64% | 4.5 |
| 15 Jul 2026 | 1.4M | +8.84% | 3.95 |
| 30 Jun 2026 | 1.3M | +22.06% | 1.74 |
Funds that hold it
From each fund's latest Form 13F.
183 funds held it at 30 Jun 2026: 85 added and 40 trimmed in the quarter. The largest:
| Fund | Shares | Value | Change in the quarter |
|---|---|---|---|
| BlackRock, Inc. | 4,572,516 | $28.5M | +654,718 |
| Western Standard LLC | 2,247,591 | $14.0M | 0 |
| Vanguard Capital Management LLC | 1,972,619 | $12.3M | +27,543 |
| Prescott Group Capital Management, L.L.C. | 1,647,793 | $10.3M | +55,206 |
| Third Avenue Management LLC | 1,341,879 | $8.4M | +668 |
| Bain Capital Credit, LP | 1,108,012 | $6.9M | 0 |
| Geode Capital Management, LLC | 1,106,335 | $6.9M | +83,897 |
| State Street Corp. | 898,673 | $5.6M | -42,731 |
| Dimensional Fund Advisors LP | 716,947 | $4.5M | -593,185 |
| Jacobs Levy Equity Management, Inc. | 649,530 | $4.1M | -234,742 |
Peers
Companies in the same industry.
- Old Republic International Corp. (ORI): revenue $9.8B, market value $9.2B
- Essent Group Ltd. (ESNT): revenue $1.3B, market value $6.0B
- Mgic Investment Corp. (MTG): revenue $1.2B, market value $5.9B
- Radian Group Inc. (RDN): revenue $1.6B, market value $4.7B
- NMI Holdings, Inc. (NMIH): revenue $730.8M, market value $3.2B
- Assured Guaranty Ltd. (AGO): revenue $940.0M, market value $3.1B
- Mbia Inc. (MBI): revenue $94.0M, market value $228.0M