Old Republic International Corporation (NYSE:ORI) Short Interest Down 27.0% in January

Old Republic International Corporation (NYSE:ORI) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 5,044,181 shares, a drop of 27.0% from the December 31st total of 6,906,991 shares. Currently, 2.1% of the company’s stock are short sold. Based on an average daily volume of 1,644,010 shares, the short-interest ratio is presently 3.1 days. Based on an average daily volume of 1,644,010 shares, the short-interest ratio is presently 3.1 days. Currently, 2.1% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

ORI has been the topic of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $38.00 target price (down previously from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Finally, Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and an average price target of $42.50.

Old Republic International Price Performance

Shares of Old Republic International stock traded up $0.08 during trading on Friday, reaching $39.17. 2,536,538 shares of the stock traded hands, compared to its average volume of 2,041,001. Old Republic International has a 52-week low of $34.43 and a 52-week high of $46.76. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.75. The business has a fifty day simple moving average of $43.78 and a two-hundred day simple moving average of $41.47. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.64 and a quick ratio of 0.26.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period last year, the firm earned $0.90 earnings per share. Sell-side analysts expect that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently declared a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were paid a $2.50 dividend. The ex-dividend date of this dividend was Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is currently 34.22%.

Insider Activity at Old Republic International

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

Hedge Funds Weigh In On Old Republic International

Several institutional investors have recently modified their holdings of ORI. Belleair Asset Management LLC purchased a new position in shares of Old Republic International during the fourth quarter worth about $796,000. State of New Jersey Common Pension Fund D increased its stake in shares of Old Republic International by 12.1% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 60,496 shares of the insurance provider’s stock worth $2,761,000 after purchasing an additional 6,510 shares in the last quarter. Sage Rhino Capital LLC purchased a new stake in shares of Old Republic International during the fourth quarter worth about $214,000. Vest Financial LLC boosted its stake in Old Republic International by 116.7% in the 4th quarter. Vest Financial LLC now owns 77,443 shares of the insurance provider’s stock worth $3,534,000 after buying an additional 41,712 shares during the last quarter. Finally, Certuity LLC acquired a new position in Old Republic International in the fourth quarter valued at $226,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

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.