Don't get me wrong, stein, I am long as well. And I intend to keep holding. I think we will all be rewarded eventually. My frustration is that we haven't been able to get any momentum. Al's stodgy approach probably was a plus during the financial crisis. But the financial crisis ended a long time ago, and Al is still talking about problems rather than successes.
I like insurance stocks - I own a number of them. CINF just announced their dividend increase on Friday. Like all the others I own, their dividend increase is significant compared to ORI's. If ORI would trade at the same dividend yield as CINF, it would be over $20. Wall street is punishing this stock - and until Al goes, I don't expect that to change. But I do recommend the stock - he won't be around forever.
The stock was making a top when it was $17. My average is well below that. I have a lot of confidence the top will be exceeded this year, all the while getting 74c this year. I think the stock has a good chance to double in 5 years. That's good enough performance for me to be happy. It just takes patience. And, if I am wrong, the downside from here is minimal and 5% is great considering what 5 year notes return.
Yes a decent buy price UNLESS the market continues down further- generally all companies will follow it down IF IT HAPPENS
Maybe he is part of the reason the stock is a reliable source of income. If he produces the results he has forecasted, I'll be very happy with him.
I added at 13.90. The conference call didn't increase my expectation for more than a .01 increase in the dividend. But a reliable 5%+ yield with the potential for larger increases some day keeps me long. Zucaro is no ball of fire, even for an insurance company. I have to think he's part of the reason Wall Street isn't excited about the stock.
2015 will be better IMO and of course there is the possibility for a positive lawsuit result.
Enjoy the dividend while we wait, add on weakness is my plan---- as positive news or results will be a fast catalyst.
Sentiment: Strong Buy
I still have some hope for this. It is in my retirement account so I need the dividend, but if it turns around that would be a bonus. I might add some shares with the dip. ORI does need some new and inspired leadership however. That would be a welcomed change. JMO
Yes an old boring company, BUT the dividend looks safe with a low PE. Eventually management (maybe new)
will steer this company in a decent growth direction. Nothing wrong with buying at these new lows and waiting.
Again, Work Comp is killing them. PMA acquisition just another stupid move by Zucaro, not quite as bad as the Land America fiasco or the PMI/MTG nightmare, but not far behind at this point. How many millions is that clown going to flush down the toilet until he's dismissed? I am counting well over half a billion at this point.