Key Points
- Old Republic International SVP Carolyn Monroe sold 13,330 shares on May 12 at an average price of $38.76, totaling about $516,671. The sale reduced her ownership by 29.24% and was made to cover tax withholding obligations tied to vesting equity awards.
- The company recently missed earnings expectations, reporting $0.68 EPS versus the $0.79 consensus estimate, though revenue came in slightly ahead at $2.40 billion. Revenue still rose 6.7% year over year.
- Old Republic increased its quarterly dividend to $0.315 per share, or $1.26 annualized, for a yield of about 3.2%. Analysts currently hold a consensus rating of Moderate Buy with a $42 target price.
Old Republic International Corporation (NYSE:ORI - Get Free Report) SVP Carolyn Monroe sold 13,330 shares of the business's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company's stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Old Republic International Trading Up 0.9%
Shares of ORI stock opened at $39.15 on Friday. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76. The company has a market cap of $9.51 billion, a price-to-earnings ratio of 10.49 and a beta of 0.63. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The stock has a 50 day simple moving average of $40.28 and a 200-day simple moving average of $41.98.
Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. Old Republic International's revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. On average, equities research analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.
Old Republic International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. This is a positive change from Old Republic International's previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 9th. Old Republic International's dividend payout ratio (DPR) is 33.78%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB increased its holdings in shares of Old Republic International by 28.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 222 shares during the last quarter. Aptus Capital Advisors LLC grew its holdings in Old Republic International by 5.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider's stock valued at $247,000 after buying an additional 257 shares in the last quarter. Signet Financial Management LLC grew its holdings in Old Republic International by 2.5% in the 4th quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider's stock valued at $500,000 after buying an additional 263 shares in the last quarter. waypoint wealth counsel increased its stake in shares of Old Republic International by 3.3% in the 4th quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider's stock worth $383,000 after acquiring an additional 265 shares during the last quarter. Finally, Clearstead Trust LLC increased its stake in shares of Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock worth $31,000 after acquiring an additional 288 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on ORI. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research report on Monday, April 27th. Weiss Ratings lowered Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. Zacks Research cut Old Republic International from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 29th. Finally, Piper Sandler lifted their price target on Old Republic International from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.00.
Get Our Latest Stock Report on Old Republic International
Old Republic International Company Profile
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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.
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