Insider Selling: Old Republic International (NYSE:ORI) EVP Sells $576,975.00 in Stock

Old Republic International Corporation (NYSE:ORI) EVP Stephen Oberst sold 13,125 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total value of $576,975.00. Following the transaction, the executive vice president directly owned 82,205 shares in the company, valued at $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Stock Down 0.2%

NYSE ORI opened at $43.29 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.68 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The business has a 50 day moving average price of $40.27 and a two-hundred day moving average price of $40.57. The stock has a market cap of $10.51 billion, a PE ratio of 10.23 and a beta of 0.58.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 EPS. As a group, sell-side analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 annualized dividend and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio is 29.79%.

Hedge Funds Weigh In On Old Republic International

Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of Old Republic International by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 12,241,253 shares of the insurance provider’s stock worth $488,426,000 after buying an additional 388,866 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Old Republic International by 30.7% in the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after buying an additional 1,774,807 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Old Republic International by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock valued at $268,202,000 after acquiring an additional 60,395 shares in the last quarter. Geode Capital Management LLC raised its holdings in Old Republic International by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock valued at $190,870,000 after acquiring an additional 72,857 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in Old Republic International by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock valued at $170,364,000 after acquiring an additional 22,496 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research note on Monday, April 27th. Piper Sandler decreased their price objective on shares of 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. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

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.