Old Republic International Corporation (NYSE:ORI - Get Free Report) SVP Jeffrey Lange sold 14,075 shares of the company's stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total value of $615,922.00. Following the completion of the sale, the senior vice president owned 12,244 shares in the company, valued at $535,797.44. This trade represents a 53.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Old Republic International Price Performance
Shares of ORI opened at $43.29 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 debt-to-equity ratio of 0.38, a current ratio of 0.68 and a quick ratio of 0.23. The company has a market capitalization of $10.51 billion, a price-to-earnings ratio of 10.23 and a beta of 0.58. The business has a 50-day moving average of $40.27 and a 200-day moving average of $40.57.
Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the firm earned $0.81 earnings per share. Old Republic International's revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 2.91 earnings per share for the current year.
Old Republic International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a dividend of $0.315 per share. The ex-dividend date was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is presently 29.79%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on ORI. Zacks Research upgraded shares of Old Republic International from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research report on Monday, April 27th. Weiss Ratings reissued a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Finally, Piper Sandler dropped their target price on shares of Old Republic International from $40.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.50.
View Our Latest Analysis on Old Republic International
Institutional Investors Weigh In On Old Republic International
Several large investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its holdings in Old Republic International by 230.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider's stock worth $540,943,000 after purchasing an additional 8,266,829 shares in the last quarter. GQG Partners LLC acquired a new position in Old Republic International in the fourth quarter valued at approximately $155,960,000. Norges Bank bought a new position in shares of Old Republic International during the 4th quarter worth approximately $134,633,000. AQR Capital Management LLC boosted its holdings in shares of Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider's stock worth $221,457,000 after buying an additional 2,066,965 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in shares of Old Republic International by 55.0% during the 4th quarter. Raymond James Financial Inc. now owns 3,234,373 shares of the insurance provider's stock worth $147,650,000 after buying an additional 1,147,102 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.
Old Republic International Company Profile
(
Get Free Report)
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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