Old Republic International (NYSE:ORI) SVP Sells $75,560.88 in Stock

Old Republic International Corporation (NYSE:ORI) SVP Carolyn Monroe sold 1,788 shares of the company’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $42.26, for a total transaction of $75,560.88. Following the completion of the sale, the senior vice president directly owned 32,261 shares of the company’s stock, valued at $1,363,349.86. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Stock Performance

NYSE:ORI opened at $42.84 on Friday. Old Republic International Corporation has a twelve month low of $36.65 and a twelve month high of $46.76. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average of $41.29 and a 200-day moving average of $40.64. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of 10.13 and a beta of 0.58.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business 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 EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts forecast that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a $0.315 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.26 annualized dividend and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio is currently 29.79%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ORI. Piper Sandler cut their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Raymond James Financial set a $44.00 target price on Old Republic International in a report on Monday, April 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Finally, Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Old Republic International has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Institutional Investors Weigh In On Old Republic International

A number of large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new stake in shares of Old Republic International in the 2nd quarter valued at approximately $491,660,000. GQG Partners LLC purchased a new position in Old Republic International during the 4th quarter worth approximately $155,960,000. Norges Bank purchased a new position in Old Republic International during the 4th quarter worth approximately $134,633,000. AQR Capital Management LLC raised its stake in 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 valued at $221,457,000 after purchasing an additional 2,066,965 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of Old Republic International by 55.0% in the fourth quarter. Raymond James Financial Inc. now owns 3,234,373 shares of the insurance provider’s stock valued at $147,650,000 after purchasing an additional 1,147,102 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

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. 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.