Old Republic International (NYSE:ORI) Posts Quarterly Earnings Results

Old Republic International (NYSE:ORI) posted its quarterly earnings results on Thursday. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11), Zacks reports. Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.81 EPS.

Old Republic International Stock Down 1.5%

Shares of ORI stock traded down $0.64 during mid-day trading on Thursday, hitting $41.44. 714,081 shares of the stock traded hands, compared to its average volume of 1,860,316. Old Republic International has a 52-week low of $35.60 and a 52-week high of $46.76. The stock has a market cap of $10.09 billion, a P/E ratio of 12.20 and a beta of 0.72. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. The stock’s fifty day moving average is $41.04 and its two-hundred day moving average is $42.25.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were given a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. Old Republic International’s payout ratio is currently 37.17%.

Insider Activity at Old Republic International

In other news, Director John Eric Smith acquired 1,135 shares of Old Republic International stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the purchase, the director directly owned 4,276 shares in the company, valued at $184,295.60. The trade was a 36.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPL Wealth Management LLC acquired a new position in Old Republic International during the 3rd quarter valued at about $27,000. Wilmington Savings Fund Society FSB increased its position in shares of Old Republic International by 28.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 222 shares during the period. Headlands Technologies LLC acquired a new position in shares of Old Republic International in the 2nd quarter valued at $46,000. Mcguire Capital Advisors Inc. purchased a new position in Old Republic International in the 4th quarter worth $46,000. Finally, Danske Bank A S acquired a new stake in Old Republic International during the 3rd quarter worth about $51,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ORI shares. Piper Sandler reiterated a “neutral” rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Old Republic International Company Profile

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.