Zacks Investment Research Downgrades Old Republic International Corporation (ORI) to Sell

Old Republic International Corporation (NYSE:ORI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Tuesday, October 17th.

According to Zacks, “Old Republic International Corporation is Chicago-based and is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title and life and health insurance fields. “

Separately, BidaskClub cut Old Republic International Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th.

Old Republic International Corporation (NYSE:ORI) traded up $0.03 during mid-day trading on Tuesday, reaching $20.47. The company’s stock had a trading volume of 519,013 shares, compared to its average volume of 1,219,447. The company has a quick ratio of 0.50, a current ratio of 1.29 and a debt-to-equity ratio of 0.32. The stock has a market cap of $5,392.21, a price-to-earnings ratio of 16.75 and a beta of 1.36. Old Republic International Corporation has a 1-year low of $16.67 and a 1-year high of $21.19.

Old Republic International Corporation (NYSE:ORI) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The company had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.52 billion. Old Republic International Corporation had a return on equity of 7.50% and a net margin of 6.45%. Old Republic International Corporation’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. sell-side analysts expect that Old Republic International Corporation will post 1.17 EPS for the current fiscal year.

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Large investors have recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in Old Republic International Corporation by 3.6% in the second quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the insurance provider’s stock valued at $1,248,000 after acquiring an additional 2,200 shares during the period. Legal & General Group Plc lifted its holdings in Old Republic International Corporation by 5.2% in the second quarter. Legal & General Group Plc now owns 1,180,229 shares of the insurance provider’s stock valued at $23,051,000 after acquiring an additional 58,636 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Old Republic International Corporation by 8.1% in the second quarter. Pinnacle Associates Ltd. now owns 123,278 shares of the insurance provider’s stock valued at $2,408,000 after acquiring an additional 9,187 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Old Republic International Corporation by 30.6% in the second quarter. Canada Pension Plan Investment Board now owns 61,400 shares of the insurance provider’s stock valued at $1,199,000 after acquiring an additional 14,400 shares during the period. Finally, Koch Industries Inc. bought a new position in Old Republic International Corporation in the second quarter valued at about $385,000. 71.05% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Corporation Company Profile

Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.

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