Selective Insurance Group, Inc. SIGI

FinancialsInsuranceUnited States of America

Last close 98.83 USD on Nov 1, 2026, +19.8% year to date

Quant rating

Quant rating A Rank 30 of 799 in Financials

Growth B 222 of 799
Valuation A 65 of 799
Quality B 259 of 799
Revisions A 11 of 799
Momentum B 213 of 799

Wall Street consensus Hold (2.78)Average target 103.29 USD +4.5%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 5.8B
Enterprise value: 6.9B
52-week range: 72.82 – 101.00
3-year range: 72.82 – 109.17
Dividend yield: 1.94%
Beta (5 years): 0.21
Shares outstanding: 59.0M
Next earnings: Jan 27, 2027

About the company

Selective Insurance Group, Inc. is a holding company, which owns over 10 property and casualty insurance subsidiaries that sell products and services only in the United States. The Company's segments include Standard Commercial Lines, Standard Personal Lines, E&S Lines, and Investments. The Standard Commercial Lines segment includes property and casualty insurance products and services to commercial enterprises, typically businesses, non-profit organizations, and local government agencies. The Standard Personal Lines segment consists of property and casualty insurance products and services, including flood insurance coverage sold through the Write Your Own program of the National Flood Insurance Program. The E&S Lines segment consists of property and casualty insurance products and services to commercial customers unable to obtain coverage in the standard marketplace. The Investment segment invests insurance premiums and amounts generated through its capital management strategies.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	4,797	4,408	3,847	3,385	3,035	–
Revenue growth	8.8%	14.6%	13.7%	11.5%	12.4%	12.2%
EPS (basic, normalized)	7.38	3.27	5.89	5.03	6.27	–
EPS growth	125.7%	−44.5%	17.1%	−19.8%	–	–
Gross margin	–	–	–	–	–	–
Net margin	8.6%	4.1%	8.4%	6.0%	11.7%	7.8%
ROE	13.4%	6.6%	13.1%	11.1%	14.3%	11.7%

Balance sheet, last quarter
Cash & short-term investments (mil)	–
Current ratio	–
Long-term debt (mil)	902
Net debt (mil)	–
Total equity (mil)	3,446
Net debt / equity	–

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			Book value per share			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	P/B	Mean est.	Growth	P/E
2025 actual	4,797	+8.8%	1.4x	56.74	+14.0%	1.7x	7.38	+125.7%	13.4x
2026	4,795	−0.1%	1.4x	58.22	+2.6%	1.7x	8.65	+17.2%	11.4x
2027	4,760	−0.7%	1.5x	64.99	+11.6%	1.5x	9.00	+4.1%	11.0x
2028	4,837	+1.6%	1.4x	71.47	+10.0%	1.4x	9.74	+8.2%	10.1x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	4,795	−0.6%	−1.1%	−4.2%	8.65	+6.8%	+6.8%	+11.5%
2027	4,760	−1.9%	−2.7%	−7.8%	9.00	+3.3%	+3.0%	+3.0%
2028	4,837	+10.7%	+16.5%	−15.8%	9.74	+23.1%	+30.8%	+7.4%

Earnings surprises EPS beat in 2 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,157	1,226	1,158	1,090	1,240	1,289	1,360	1,365	1,226	1,221
Sales mean (mil)	1,121	1,204	1,175	1,082	1,257	1,326	1,236	1,135	1,313	1,303
Surprise	+3.1%	+1.8%	−1.5%	+0.7%	−1.3%	−2.8%	+10.1%	+20.3%	−6.7%	−6.3%
EPS reported	1.33	−1.10	1.40	1.62	1.76	1.31	1.75	2.57	1.69	1.95
EPS mean	1.86	1.49	1.65	1.99	1.85	1.51	1.91	2.04	1.86	1.66
Surprise	−28.4%	−174.1%	−15.0%	−18.5%	−4.7%	−13.0%	−8.5%	+26.2%	−9.0%	+17.5%

Peer comparison Insurance

Peers in the same industry group, by market capitalization
Company	Market cap	ROE	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 P/B	FY2 P/B
SIGI Selective Insurance Group, Inc.	5.8B	13.4%	8.6%	1.69x	11.4x	11.0x	1.7x	1.5x
CB Chubb Limited	139.1B	14.4%	17.4%	1.90x	12.5x	12.3x	1.8x	1.6x
PGR The Progressive Corporation	134.0B	38.2%	12.9%	3.91x	12.6x	14.3x	3.9x	3.4x
ZURN Zurich Insurance Group AG	114.8B	25.2%	9.0%	3.57x	16.4x	14.4x	3.7x	3.5x
MRSH Marsh & McLennan Companies, Inc.	95.4B	33.4%	15.4%	6.50x	19.1x	17.5x	6.4x	5.5x
TRV The Travelers Companies, Inc.	81.2B	20.8%	12.8%	2.80x	10.8x	12.7x	2.5x	2.3x
Mean		24.2%	12.7%	3.40x	13.8x	13.7x	3.3x	3.0x
Median		23.0%	12.8%	3.18x	12.5x	13.5x	3.1x	2.8x

Technical analysis

1M+16.2%
3M+5.2%
1Y+33.3%
3Y+1.3%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Selective Insurance Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Premiums earned	4,797	4,408	3,847	3,385	3,035	2,699
Other revenue	527	456	376	205	334	236
Total revenue	5,325	4,864	4,223	3,590	3,369	2,936
Losses, benefits and adjustments	3,158	3,164	2,484	2,112	1,814	1,636
Amortization of policy acquisition costs	1,002	922	796	706	626	560
Selling, general & administrative expenses	47.5	43.0	38.1	39.3	36.2	34.9
Depreciation/amortization	2.7	2.7	2.7	2.4	1.8	0.6
Interest expense (income), operating	–	–	–	–	–	–
Other operating expenses	488	442	424	390	374	378
Operating income	627	289	478	341	517	326
Net interest income (expense)	−37.1	−30.8	−19.3	−61.0	−11.3	−22.9
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	0	0	0	0	0	0
Net income before taxes	590	258	458	280	505	303
Provision for taxes	123	51.0	93.2	55.3	101	56.6
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	466	207	365	225	404	246
Extraordinary items	–	–	–	–	–	–
Net income	466	207	365	225	404	246
Basic weighted average shares (mil)	60.6	60.9	60.6	60.4	60.2	59.9
Diluted weighted average shares (mil)	61.1	61.3	61.0	60.9	60.7	60.3
Basic EPS, normalized	7.38	3.27	5.89	5.03	6.27	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Selective Insurance Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Total receivables	–	–	–	–	–	–
Prepaid expenses	–	–	–	–	–	–
Property, plant & equipment	208	138	125	127	118	118
Goodwill	7.8	7.8	7.8	7.8	7.8	7.8
Intangibles	–	–	–	–	–	–
Insurance receivables	1,534	1,468	1,313	1,086	945	836
Long-term investments	11,302	9,651	8,694	7,837	8,027	7,506
Note receivable	–	–	–	–	–	–
Other long-term assets	129	210	153	198	44.6	14.8
Deferred policy acquisition costs	492	479	425	369	327	289
Other assets	1,482	1,560	1,085	1,178	992	917
Total assets	15,156	13,514	11,803	10,802	10,461	9,688
Liabilities
Accounts payable	–	–	–	–	–	–
Payable/accrued	–	–	–	–	–	–
Accrued expenses	246	169	166	160	158	157
Policy liabilities	9,971	9,206	7,668	7,138	6,384	5,879
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	60.0	–	–	–	–	–
Long-term debt	842	508	504	505	506	551
Minority interest	–	–	–	–	–	–
Other liabilities	428	511	511	473	430	363
Total liabilities	11,547	10,394	8,848	8,275	7,479	6,949
Shareholders' equity
Preferred stock	200	200	200	200	200	200
Common stock	212	211	210	210	209	208
Additional paid-in capital	591	557	523	493	464	439
Retained earnings (accumulated deficit)	3,501	3,139	3,029	2,750	2,603	2,272
Treasury stock	−743	−651	−635	−627	−609	−600
Other equity	−152	−337	−373	−498	115	220
Total equity	3,609	3,120	2,954	2,528	2,983	2,739
Total liabilities & shareholders' equity	15,156	13,514	11,803	10,802	10,461	9,688

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Selective Insurance Group, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	466	207	365	225	404	246
Depreciation, depletion & amortization	32.7	34.8	30.0	42.3	55.1	59.4
Deferred taxes	−16.1	−2.7	9.1	−25.9	−0.5	7.7
Non-cash items	26.9	22.1	17.3	48.8	−51.0	7.3
Changes in working capital	723	839	337	512	364	233
Cash from operations	1,233	1,100	759	802	771	554
Investing activities
Capital expenditures	−38.7	−30.8	−22.6	−26.0	−22.2	−22.1
Other investing cash flows	−1,447	−917	−664	−708	−597	−666
Cash from investing	−1,486	−947	−686	−734	−619	−688
Financing activities
Financing cash flow items	9.0	9.6	9.1	9.1	8.0	8.4
Cash dividends paid	−102	−94.1	−83.0	−76.1	−69.5	−54.5
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	301	−18.2	−10.6	−20.8	−61.3	187
Cash from financing	207	−103	−84.5	−87.8	−123	141
Foreign exchange effects	–	–	–	–	–	–
Net change in cash	−45.1	49.8	−11.9	−19.9	29.8	7.3
Free cash flow	1,194	1,069	736	776	749	532

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.