Old Republic International (NYSE:ORI) Shares Gap Down – Time to Sell?

Old Republic International Corporation (NYSE:ORI)’s share price gapped down prior to trading on Friday . The stock had previously closed at $45.64, but opened at $42.85. Old Republic International shares last traded at $42.7140, with a volume of 58,395 shares traded.

Analyst Upgrades and Downgrades

ORI has been the topic of several recent research reports. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their target price for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Weiss Ratings restated a “buy (a)” rating on shares of Old Republic International in a research note on Wednesday, December 24th. Finally, Piper Sandler increased their target price on Old Republic International from $46.00 to $51.00 and gave the company an “overweight” rating in a research note on Monday, December 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average target price of $49.00.

Old Republic International Stock Down 5.8%

The company has a market capitalization of $10.64 billion, a PE ratio of 14.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26. The firm has a fifty day simple moving average of $43.87 and a 200-day simple moving average of $40.83.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.28 billion. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. Equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd will be paid a $2.50 dividend. The ex-dividend date is Friday, January 2nd. Old Republic International’s dividend payout ratio is 38.80%.

Insider Activity

In other Old Republic International news, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the transaction, the senior vice president owned 29,075 shares of the company’s stock, valued at $1,295,000.50. This trade represents a 18.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Therace Risch bought 1,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $39.14 per share, with a total value of $39,140.00. Following the transaction, the director owned 10,625 shares in the company, valued at approximately $415,862.50. This represents a 10.39% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

Several large investors have recently added to or reduced their stakes in ORI. JPL Wealth Management LLC acquired a new stake in shares of Old Republic International during the third quarter worth $27,000. Clearstead Trust LLC grew its position in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after buying an additional 288 shares during the last quarter. Quarry LP raised its stake in Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 731 shares during the period. Ameritas Advisory Services LLC bought a new position in Old Republic International in the second quarter worth about $34,000. Finally, Core Alternative Capital acquired a new position in Old Republic International in the third quarter valued at approximately $42,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Company Profile

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.