Old Republic International Co. (NYSE:ORI) Short Interest Up 25.7% in March

Old Republic International Co. (NYSE:ORI) was the target of a large increase in short interest in the month of March. As of March 31st, there was short interest totalling 3,520,000 shares, an increase of 25.7% from the March 15th total of 2,800,000 shares. Based on an average trading volume of 1,270,000 shares, the short-interest ratio is presently 2.8 days. Currently, 1.6% of the company’s shares are short sold.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Insider Transactions at Old Republic International

In other news, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company’s stock, valued at $1,699,294. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock worth $1,580,733 in the last quarter. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

A number of institutional investors have recently modified their holdings of ORI. Sagespring Wealth Partners LLC acquired a new position in Old Republic International in the first quarter valued at $254,000. Trust Point Inc. increased its holdings in shares of Old Republic International by 17.8% in the first quarter. Trust Point Inc. now owns 8,068 shares of the insurance provider’s stock valued at $316,000 after purchasing an additional 1,217 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in shares of Old Republic International by 7.3% in the 1st quarter. Cyndeo Wealth Partners LLC now owns 205,035 shares of the insurance provider’s stock worth $8,041,000 after acquiring an additional 13,976 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock valued at $23,143,000 after buying an additional 23,775 shares during the period. Finally, Everhart Financial Group Inc. boosted its stake in shares of Old Republic International by 9.9% in the first quarter. Everhart Financial Group Inc. now owns 18,500 shares of the insurance provider’s stock valued at $726,000 after buying an additional 1,667 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Stock Up 0.3 %

ORI stock traded up $0.12 during midday trading on Friday, reaching $37.83. 909,728 shares of the company were exchanged, compared to its average volume of 1,258,609. The stock’s 50-day simple moving average is $37.39 and its 200 day simple moving average is $36.67. Old Republic International has a 1-year low of $28.65 and a 1-year high of $39.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The company has a market cap of $9.35 billion, a price-to-earnings ratio of 14.38 and a beta of 0.68.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. On average, equities analysts forecast that Old Republic International will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.29 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s dividend payout ratio is presently 44.11%.

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.