Old Republic International (NYSE:ORI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
According to Zacks, “Old Republic International Corporation is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A small life and accident insurance business is also conducted in the U.S. and Canada, principally as an adjunct to the Company’s general insurance operations. “
NYSE:ORI opened at $22.42 on Thursday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.19. The stock has a market cap of $6.81 billion, a P/E ratio of 20.20 and a beta of 1.23. Old Republic International has a 52-week low of $19.33 and a 52-week high of $23.05.
Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 26th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.07. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.49 billion. Old Republic International had a return on equity of 7.53% and a net margin of 8.72%. During the same period last year, the company earned $0.35 earnings per share. research analysts predict that Old Republic International will post 1.75 earnings per share for the current year.
In related news, CFO Karl W. Mueller sold 9,879 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $22.00, for a total transaction of $217,338.00. Following the completion of the transaction, the chief financial officer now directly owns 26,787 shares in the company, valued at $589,314. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of ORI. Wedge Capital Management L L P NC boosted its position in Old Republic International by 5.4% during the second quarter. Wedge Capital Management L L P NC now owns 46,385 shares of the insurance provider’s stock valued at $924,000 after purchasing an additional 2,361 shares during the last quarter. Vident Investment Advisory LLC boosted its position in Old Republic International by 1.5% during the second quarter. Vident Investment Advisory LLC now owns 161,388 shares of the insurance provider’s stock valued at $3,213,000 after purchasing an additional 2,418 shares during the last quarter. Spinnaker Trust boosted its position in Old Republic International by 13.2% during the second quarter. Spinnaker Trust now owns 21,400 shares of the insurance provider’s stock valued at $425,000 after purchasing an additional 2,500 shares during the last quarter. Atlantic Trust LLC boosted its position in Old Republic International by 13.2% during the second quarter. Atlantic Trust LLC now owns 21,400 shares of the insurance provider’s stock valued at $426,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its position in Old Republic International by 3.2% during the first quarter. Baird Financial Group Inc. now owns 80,323 shares of the insurance provider’s stock valued at $1,723,000 after purchasing an additional 2,507 shares during the last quarter. Institutional investors and hedge funds own 72.66% of the company’s stock.
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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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