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Octave Specialty Group, Inc. logo

Octave Specialty Group, Inc.

OSG

NYSEFinancial ServicesInsurance - Specialty

Open in GoAI

Regular session

$4.555

+$0.005 · +0.11%

Aug 24, 12:28 PM ET

OSG company overview

Regular session · ET · Market data may be delayed.

GoAI snapshot

AI-powered factor overview

Jul 10, 2026

GoAI score

Hold

Wait — insufficient conviction to act

Valuation

65

Undervalued

Momentum

38

Weakening

Sentiment

44

Mixed

Risk resilience

40

Elevated Risk

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Thesis, catalysts, evidence, and risk analysis.

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Company profile

Company website

Octave Specialty Group, Inc. functions as a financial services holding company, organizing its operations into two distinct divisions. Its Specialty Property and Casualty Insurance segment delivers specialized program insurance, primarily focusing on coverage for commercial and personal liability exposures. The second division, Insurance Distribution, offers a broad spectrum of services for distributing specialty property and casualty insurance, which includes roles such as managing general agents, underwriters, and insurance brokers, alongside other related distribution and underwriting ventures. Established in 1971, the company, with its corporate headquarters located in New York, New York, rebranded from its former name, Ambac Financial Group, Inc., to Octave Specialty Group, Inc. in November 2025.

Industry
Insurance - Specialty
Sector
Financial Services
Headquarters
US
CEO
Claude LeBlanc
Listed since
May 1, 2013
Employees
483

Market position

Day range

Current $4.555

52-week range

Current $4.555

Open
$4.53
Previous close
$4.55
Volume
79.33K
0.14× average
Average volume
574.56K
Average daily volume
Market cap
205.04M USD
Beta
0.85
Market reference 1
50-day average
$5.6524
-19.41% below average
200-day average
$6.1099
-25.45% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

P/E (TTM)
-1.25×
P/B (TTM)
0.3×
P/S (TTM)
0.64×
Dividend yield
0.00%

Profitability & efficiency

Gross margin
83.22%
Operating margin
-24.31%
Net margin
-43.99%

Financial health

Debt / equity
0.22×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends1093%610%127%-357%Gross margin, FY2021: 129.15%Gross margin, FY2022: 45.45%Gross margin, FY2023: 38.48%Gross margin, FY2024: 41.83%Gross margin, FY2025: 81.21%Operating margin, FY2021: -0.40%Operating margin, FY2022: -66.60%Operating margin, FY2023: -19.42%Operating margin, FY2024: -25.38%Operating margin, FY2025: -40.21%Net margin, FY2021: -6.88%Net margin, FY2022: 972.26%Net margin, FY2023: 2.91%Net margin, FY2024: -235.97%Net margin, FY2025: -95.90%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 129.15%. Gross margin FY2022 45.45%. Gross margin FY2023 38.48%. Gross margin FY2024 41.83%. Gross margin FY2025 81.21%. Operating margin FY2021 -0.40%. Operating margin FY2022 -66.60%. Operating margin FY2023 -19.42%. Operating margin FY2024 -25.38%. Operating margin FY2025 -40.21%. Net margin FY2021 -6.88%. Net margin FY2022 972.26%. Net margin FY2023 2.91%. Net margin FY2024 -235.97%. Net margin FY2025 -95.90%.

Income trends

Revenue

251.22M USD+6.53%

Operating income

−101.01M USD-68.79%

Net income

−240.92M USD+56.70%
Income trends across reported periods629.02M USD197.94M USD−233.14M USD−664.22M USDRevenue, FY2021: 247M USDRevenue, FY2022: 53.61M USDRevenue, FY2023: 124.73M USDRevenue, FY2024: 235.82M USDRevenue, FY2025: 251.22M USDOperating income, FY2021: −1M USDOperating income, FY2022: −35.71M USDOperating income, FY2023: −24.22M USDOperating income, FY2024: −59.85M USDOperating income, FY2025: −101.01M USDNet income, FY2021: −17M USDNet income, FY2022: 521.25M USDNet income, FY2023: 3.63M USDNet income, FY2024: −556.45M USDNet income, FY2025: −240.92M USDFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 247M USD. Revenue FY2022 53.61M USD. Revenue FY2023 124.73M USD. Revenue FY2024 235.82M USD. Revenue FY2025 251.22M USD. Operating income FY2021 −1M USD. Operating income FY2022 −35.71M USD. Operating income FY2023 −24.22M USD. Operating income FY2024 −59.85M USD. Operating income FY2025 −101.01M USD. Net income FY2021 −17M USD. Net income FY2022 521.25M USD. Net income FY2023 3.63M USD. Net income FY2024 −556.45M USD. Net income FY2025 −240.92M USD.
Metric (USD)FY2025FY2024FY2023FY2022FY2021
Revenue251.22M USD235.82M USD124.73M USD53.61M USD247M USD
Cost of goods sold47.19M USD137.17M USD76.73M USD29.25M USD−72M USD
Gross profit204.03M USD98.65M USD47.99M USD24.37M USD319M USD
Selling, general, and administrative191.62M USD129.17M USD66.99M USD56.28M USD111M USD
Operating expenses305.04M USD158.49M USD72.22M USD60.07M USD320M USD
Interest expense18.64M USD9.38M USD—167M USD187M USD
Depreciation and amortization41.95M USD19.95M USD5.23M USD3.79M USD57M USD
Operating income−101.01M USD−59.85M USD−24.22M USD−35.71M USD−1M USD
Net income−240.92M USD−556.45M USD3.63M USD521.25M USD−17M USD

Company facts updated Aug 24, 2026.

Earnings

EPS beat rate
55%
6 beats, 5 misses, 0 met estimates
Average EPS surprise
+189.25%
11 comparable reports
Latest EPS result
-0.04
Estimate -0.01 · Miss by 700.00%

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly EPS actual values compared with estimates0.420.18-0.05-0.29Q1 '25MissQ2 '25MissQ3 '25BeatQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual -0.12, estimate 0.06, surprise -300.00%, Miss. Q2 2025, reported May 12, 2025: actual -0.13, estimate -0.07, surprise -85.71%, Miss. Q3 2025, reported Aug 7, 2025: actual -0.22, estimate -0.24, surprise +8.33%, Beat. Q4 2025, reported Nov 10, 2025: actual -0.21, estimate -0.23, surprise +8.70%, Beat. Q1 2026, reported Feb 23, 2026: actual -0.02, estimate -0.21, surprise +90.48%, Beat. Q2 2026, reported May 6, 2026: actual 0.37, estimate 0.02, surprise +1750.00%, Beat. Q3 2026, reported Aug 6, 2026: actual -0.04, estimate -0.005, surprise -700.00%, Miss. Q4 2026, reported Nov 9, 2026: actual —, estimate -0.06, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Quarterly Revenue actual values compared with estimates70.66M51.62M32.59M13.55MQ1 '25MissQ2 '25BeatQ3 '25MissQ4 '25BeatQ1 '26BeatQ2 '26BeatQ3 '26MissQ4 '26Estimate
Q1 2025, reported Feb 26, 2025: actual 18.93M USD, estimate 24.83M USD, surprise -23.76%, Miss. Q2 2025, reported May 12, 2025: actual 62.76M USD, estimate 33M USD, surprise +90.17%, Beat. Q3 2025, reported Aug 7, 2025: actual 54.96M USD, estimate 56.77M USD, surprise -3.19%, Miss. Q4 2025, reported Nov 10, 2025: actual 66.61M USD, estimate 56.77M USD, surprise +17.33%, Beat. Q1 2026, reported Feb 23, 2026: actual 18.32M USD, estimate 15.94M USD, surprise +14.92%, Beat. Q2 2026, reported May 6, 2026: actual 20M USD, estimate 17.77M USD, surprise +12.57%, Beat. Q3 2026, reported Aug 6, 2026: actual 21.75M USD, estimate 22.79M USD, surprise -4.57%, Miss. Q4 2026, reported Nov 9, 2026: actual —, estimate 23.22M USD, surprise —, Comparison unavailable.

Analyst ratings

Third-party consensus; not a GoAI recommendation.

Analyst price target

Average target

$14.00

207.35% upside
Past 12 months12-month forecastHigh $18.00Average $14.00Low $10.00

Rating distribution

13 ratings
Strong buy00%
Buy538%
Hold646%
Sell215%
Strong sell00%

Recent analyst actions

3 institutions
Roth MKMupgradeNeutralBuy
Compass PointmaintainBuy

OSG news

zacks.com

OSG Q2 Earnings Miss Estimates, Revenues Beat on Distribution Growth

OSG's Q2 revenues jumped 51% on strong Insurance Distribution growth and improving Everspan results, prompting a higher 2026 distribution outlook.

Read source
zacks.com

OSG Q2 Earnings Call Focuses on MGA Growth and Mixed Guidance

Octave Specialty Group raises 2026 Distribution growth and EBITDA guidance as MGA momentum accelerates, while cutting EPS and Everspan outlooks.

Read source
marketbeat.com

Octave Specialty Group Q2 Earnings Call Highlights

Octave Specialty Group NYSE: OSG reported improved second-quarter results as growth in its Insurance Distribution segment and progress at its Everspan specialty insurance platform narrowed its net loss and lifted…

Read source
seekingalpha.com

Octave Specialty Group, Inc. (OSG) Q2 2026 Earnings Call Transcript

Octave Specialty Group, Inc. (OSG) Q2 2026 Earnings Call Transcript

Read source
zacks.com

Octave Specialty Group (OSG) Reports Q2 Loss, Beats Revenue Estimates

Octave Specialty Group (OSG) came out with a quarterly loss of $0.04 per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to a loss of $0.22 per share a year ago.

Read source
zacks.com

Octave Specialty Group to Report Q2 Earnings: What to Expect

Octave Specialty heads into Q2 results with revenues projected to jump 47.4%. The bottom line is likely to improve y/y, though the model does not signal a beat.

Read source

Corporate actions

Corporate action history

Stock split

Effective Dec 13, 2000

3:2

Stock split

Effective Sep 11, 1997

2:1

OSG peers

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ETFs holding OSG

Funds reporting this stock among their holdings, ordered by reported position size.

Vanguard Morningstar Total Stock Market ETF logoVanguard Morningstar Total Stock Market ETFVTI
Market value
7.48M
Weight
0.00%
AUM
2.3T USD
Expense ratio
0.03%
Price / 1D
$377.72-0.14%
Vanguard Extended Market ETF logoVanguard Extended Market ETFVXF
Market value
2.84M
Weight
0.00%
AUM
93.7B USD
Expense ratio
0.05%
Price / 1D
$243.78-0.71%
Vanguard Russell 2000 ETF logoVanguard Russell 2000 ETFVTWO
Market value
1.26M
Weight
0.01%
AUM
17.4B USD
Expense ratio
0.06%
Price / 1D
$120.65-0.50%
Zacks Small/Mid Cap ETF logoZacks Small/Mid Cap ETFSMIZ
Market value
1.05M
Weight
0.38%
AUM
274.04M USD
Expense ratio
0.87%
Price / 1D
$42.45-0.38%
Schwab U.S. Small-Cap ETF logoSchwab U.S. Small-Cap ETFSCHA
Market value
938.21K
Weight
0.00%
AUM
23.1B USD
Expense ratio
0.03%
Price / 1D
$34.52-0.90%
Dimensional - US Core Equity 2 ETF logoDimensional - US Core Equity 2 ETFDFAC
Market value
542.82K
Weight
0.00%
AUM
49.31B USD
Expense ratio
0.17%
Price / 1D
$45.515-0.21%
Vanguard Financials ETF logoVanguard Financials ETFVFH
Market value
378.69K
Weight
0.00%
AUM
14.9B USD
Expense ratio
0.09%
Price / 1D
$142.15+1.02%
U.S. Micro Cap Portfolio ETF logoU.S. Micro Cap Portfolio ETFDFMC
Market value
375.17K
Weight
0.00%
AUM
8.06B USD
Expense ratio
0.43%
Price / 1D
$60.795-0.30%

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