In a recent transaction on April 30, 2024, Therace Risch, a director at Old Republic International Corp (NYSE:ORI), a company known for its surety insurance services, made a notable purchase of the company's common stock. The transaction, which involved buying 6,086 shares at a price of $29.77 per share, resulted in a total investment of approximately $181,180.
The acquisition of these shares indicates a significant investment by Risch in Old Republic, and it further aligns the director's interests with those of the company's shareholders. Following this purchase, Risch now owns a total of 6,086 shares in the company, demonstrating confidence in the firm's future prospects.
Old Republic International Corp, headquartered in Chicago, Illinois, has a long-standing presence in the insurance industry, offering a variety of insurance products to its clientele. The company's stock is publicly traded on the New York Stock Exchange under the ticker symbol NYSE:ORI.
Investors often monitor the buying and selling activities of company insiders like directors, as these transactions can provide insights into the executives' views on the company's valuation and future performance. Risch's recent purchase is likely to be of interest to current and potential shareholders as they assess the company's stock for their investment portfolios.
The transaction was officially filed with the Securities and Exchange Commission on May 2, 2024, with the details made available to the public. It is worth noting that these filings are a routine part of compliance for company insiders and are closely watched by market participants.
Old Republic International Corp has not provided any remarks or additional context regarding the transaction. The purchase was executed directly, and the signing of the filing was done by Victoria Pool (NASDAQ:POOL), who holds the Power of Attorney for Therace Risch.
InvestingPro Insights
Following the significant stock purchase by director Therace Risch, investors may find additional context through real-time data and insights from InvestingPro. Old Republic International Corp (NYSE:ORI) has been under the spotlight with management's aggressive share buybacks, as noted in one of the InvestingPro Tips. This action often reflects leadership's belief in the company's undervalued stock and a commitment to enhancing shareholder value.
Adding to this optimistic outlook, two analysts have revised their earnings projections upward for the upcoming period, another highlight from the InvestingPro Tips. This consensus could signal anticipated stronger financial performance, which might be a contributing factor to the director's recent stock purchase.
From a valuation standpoint, Old Republic International Corp is trading at a low P/E ratio of 11.76, with an adjusted P/E ratio for the last twelve months as of Q1 2024 at 11.38. This metric suggests that the stock could be attractive relative to its near-term earnings growth. Moreover, the company boasts a solid dividend history, having maintained payments for 54 consecutive years, coupled with a healthy dividend yield of 3.5% as of the latest data. It is also noteworthy that the company's shares are trading near their 52-week high, at 97.26% of the peak price.
For investors seeking a more comprehensive analysis, InvestingPro provides additional insights and metrics, which can be accessed through a subscription. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With these tools, investors can better gauge Old Republic International Corp's financial health and growth prospects, informed by a total of 9 InvestingPro Tips available on the platform.
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