Orion180 Insurance Group (NASDAQ:OIG) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Orion180 Insurance Group (NASDAQ:OIG) issued its quarterly earnings results on Tuesday. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05, Zacks reports.

Orion180 Insurance Group Trading Up 1.2%

Shares of NASDAQ OIG traded up $0.11 during mid-day trading on Tuesday, hitting $9.36. The company had a trading volume of 166,879 shares, compared to its average volume of 359,302. Orion180 Insurance Group has a 12 month low of $7.78 and a 12 month high of $12.06.

Insiders Place Their Bets

In other news, major shareholder Craig Darling purchased 6,990 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The shares were purchased at an average cost of $10.72 per share, for a total transaction of $74,932.80. Following the completion of the purchase, the insider directly owned 5,711,190 shares of the company’s stock, valued at approximately $61,223,956.80. The trade was a 0.12% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 10,990 shares of company stock worth $115,797 over the last 90 days.

Analyst Ratings Changes

Several brokerages recently weighed in on OIG. Texas Capital upgraded Orion180 Insurance Group to a “strong-buy” rating in a research note on Tuesday, October 20th. The Goldman Sachs Group began coverage on Orion180 Insurance Group in a research report on Tuesday, October 13th. They issued a “buy” rating and a $13.00 price target on the stock. Wall Street Zen upgraded Orion180 Insurance Group to a “hold” rating in a report on Saturday, September 26th. Citigroup started coverage on Orion180 Insurance Group in a research report on Tuesday, October 13th. They issued a “market outperform” rating for the company. Finally, Royal Bank Of Canada began coverage on shares of Orion180 Insurance Group in a research note on Tuesday, October 13th. They issued an “outperform” rating and a $15.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $14.98.

Orion180 Insurance Group Company Profile

Orion180 Insurance Group, Inc. is a technology-driven property and casualty insurance company focused primarily on personal lines coverage. Through its insurance subsidiaries, the company provides products designed to protect residential properties and personal belongings, including homeowners, renters and related property insurance offerings. The company uses proprietary technology and data analytics to support policy underwriting, pricing, distribution and claims management. Orion180 distributes its products through independent insurance agents and other channels, with an emphasis on simplifying the insurance purchasing and servicing experience for customers and agents.