Old Republic International (NYSE:ORI) Announces Earnings Results

Old Republic International (NYSE:ORI) posted its quarterly earnings results on Thursday. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.06), Zacks reports. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%. During the same quarter last year, the business earned $0.78 earnings per share.

Old Republic International Trading Down 1.4%

Old Republic International stock traded down $0.57 during midday trading on Thursday, hitting $39.56. 541,856 shares of the stock were exchanged, compared to its average volume of 1,611,135. Old Republic International has a 52 week low of $36.65 and a 52 week high of $46.76. The stock has a market capitalization of $9.55 billion, a PE ratio of 9.35 and a beta of 0.56. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. The company has a fifty day simple moving average of $40.17 and a two-hundred day simple moving average of $40.41.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were issued a dividend of $0.3150 per share. The ex-dividend date was Friday, September 4th. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. Old Republic International’s dividend payout ratio (DPR) is 29.79%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ORI. Weiss Ratings lowered shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Piper Sandler lowered their price target on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $41.50.

Insiders Place Their Bets

In related news, SVP Carolyn Monroe sold 4,386 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total transaction of $184,255.86. Following the completion of the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,171,028.75. This represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Oberst sold 13,125 shares of the business’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total value of $576,975.00. Following the completion of the sale, the executive vice president owned 82,205 shares in the company, valued at approximately $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 33,374 shares of company stock worth $1,452,714 over the last ninety days. 1.32% of the stock is currently owned by corporate insiders.

Old Republic International Company Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.