Old Republic International (NYSE:ORI) SVP Sells 1,788 Shares of Stock

Old Republic International Corporation (NYSE:ORI) SVP Carolyn Monroe sold 1,788 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $42.26, for a total value of $75,560.88. Following the completion of the sale, the senior vice president directly owned 32,261 shares of the company’s stock, valued at $1,363,349.86. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Price Performance

ORI stock traded up $0.06 on Thursday, reaching $42.53. 247,178 shares of the company’s stock were exchanged, compared to its average volume of 1,663,740. The stock has a fifty day moving average of $41.09 and a 200-day moving average of $40.59. The firm has a market cap of $10.27 billion, a PE ratio of 10.05 and a beta of 0.58. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a twelve month low of $36.65 and a twelve month high of $46.76.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The company had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the firm posted $0.81 earnings per share. Old Republic International’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, equities analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.0%. Old Republic International’s dividend payout ratio is 29.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ORI shares. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research report on Monday, April 27th. Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Piper Sandler cut their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Institutional Trading of Old Republic International

A number of hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in shares of Old Republic International during the 2nd quarter worth about $491,660,000. GQG Partners LLC purchased a new stake in Old Republic International in the fourth quarter valued at approximately $155,960,000. Norges Bank acquired a new position in Old Republic International during the fourth quarter worth approximately $134,633,000. AQR Capital Management LLC increased its position in Old Republic International by 55.7% during the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock worth $221,457,000 after purchasing an additional 2,066,965 shares during the last quarter. Finally, Raymond James Financial Inc. raised its stake in Old Republic International by 55.0% during the fourth quarter. Raymond James Financial Inc. now owns 3,234,373 shares of the insurance provider’s stock worth $147,650,000 after purchasing an additional 1,147,102 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Old Republic International

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.