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

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

Orion180 Insurance Group Stock Up 1.2%

Shares of OIG traded up $0.11 during trading hours on Tuesday, hitting $9.36. The stock had a trading volume of 166,879 shares, compared to its average volume of 359,302. Orion180 Insurance Group has a 52 week low of $7.78 and a 52 week high of $12.06.

Insider Transactions at Orion180 Insurance Group

In other news, major shareholder Craig Darling purchased 6,990 shares of the business’s stock in a transaction that occurred on Tuesday, September 22nd. The stock was purchased at an average cost of $10.72 per share, with a total value of $74,932.80. Following the acquisition, the insider directly owned 5,711,190 shares of the company’s stock, valued at approximately $61,223,956.80. This trade represents a 0.12% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have bought 10,990 shares of company stock worth $115,797.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on OIG shares. UBS Group started coverage on shares of Orion180 Insurance Group in a research note on Tuesday, October 13th. They issued a “buy” rating and a $14.00 target price on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of Orion180 Insurance Group in a research note on Tuesday, October 13th. They set a “buy” rating and a $12.90 price target for the company. Citigroup assumed coverage on Orion180 Insurance Group in a research note on Tuesday, October 13th. They issued a “market outperform” rating on the stock. Royal Bank Of Canada initiated coverage on 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. Finally, Zacks Research raised Orion180 Insurance Group to a “hold” rating in a report on Wednesday, October 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $14.98.

About Orion180 Insurance Group

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.