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Frank Sodaro, Senior Vice President and Chief Financial Officer of Old Republic International Corp (NYSE:ORI), a $9.2 billion market cap insurance company trading near its 52-week high, recently executed several stock transactions, according to a recent SEC filing. InvestingPro analysis suggests the stock is currently undervalued.
On March 3, Sodaro sold a total of 3,104 shares of Old Republic International’s common stock. The shares were sold at a price range between $38.84 and $38.841, resulting in a total transaction value of approximately $120,559. The stock has shown remarkable strength, delivering a 41% return over the past year while maintaining an attractive P/E ratio of 11.4.
In addition to the sales, Sodaro exercised stock options to acquire 10,000 shares at a price of $20.98 per share, amounting to $209,800. However, a portion of these shares was withheld to cover the exercise price and tax obligations, as noted in the filing footnotes.
Following these transactions, Sodaro holds 43,884 shares directly, including 23,355 unvested restricted stock awards. Additionally, he holds 3,900 shares indirectly through a 401(k) plan.
In other recent news, Old Republic International Corporation reported its fourth-quarter 2024 earnings, which exceeded analyst expectations with an earnings per share (EPS) of $0.90, surpassing the forecasted $0.73. However, the company’s revenue for the quarter was $2 billion, slightly below the $2.06 billion forecast. Despite the revenue miss, the company’s strong performance in the Specialty Insurance and Title Insurance segments contributed to a positive market reaction. Raymond (NSE:RYMD) James raised Old Republic’s price target from $38.00 to $40.00, maintaining an Outperform rating, driven by the company’s robust growth in consolidated net premiums and fees. JMP Securities maintained a Market Perform rating, noting the company’s operating earnings per share exceeded expectations, though some financial metrics, like net investment income, fell short. The Title Insurance segment showed strong underwriting results, exceeding estimates with $39 million compared to the expected $24 million, supported by a lower-than-anticipated loss ratio. Analysts at Raymond James remain optimistic about Old Republic’s future, highlighting the potential for continued success in the specialty and title segments as the housing market recovers.
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