Old Republic International Co. (NYSE:ORI) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 5,390,000 shares, a growth of 15.7% from the September 30th total of 4,660,000 shares. Based on an average daily volume of 1,560,000 shares, the days-to-cover ratio is currently 3.5 days. Approximately 1.9% of the company’s stock are short sold.
In other news, CFO Karl W. Mueller sold 20,760 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $23.25, for a total value of $482,670.00. Following the transaction, the chief financial officer now owns 52,539 shares in the company, valued at $1,221,531.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Calderon Alberto sold 70,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $23.65, for a total value of $1,655,430.00. Insiders sold 109,510 shares of company stock worth $2,566,383 in the last 90 days. Corporate insiders own 1.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of ORI. Nuveen Asset Management LLC lifted its holdings in Old Republic International by 113.0% during the second quarter. Nuveen Asset Management LLC now owns 2,428,683 shares of the insurance provider’s stock worth $54,354,000 after acquiring an additional 1,288,469 shares during the period. First Trust Advisors LP raised its stake in shares of Old Republic International by 351.5% in the third quarter. First Trust Advisors LP now owns 1,375,765 shares of the insurance provider’s stock valued at $32,427,000 after buying an additional 1,071,043 shares during the period. PGGM Investments raised its stake in shares of Old Republic International by 316.6% in the third quarter. PGGM Investments now owns 1,215,297 shares of the insurance provider’s stock valued at $28,645,000 after buying an additional 923,589 shares during the period. UBS Group AG raised its stake in shares of Old Republic International by 53.5% in the second quarter. UBS Group AG now owns 1,880,859 shares of the insurance provider’s stock valued at $42,093,000 after buying an additional 655,772 shares during the period. Finally, BlackRock Inc. raised its stake in shares of Old Republic International by 1.9% in the second quarter. BlackRock Inc. now owns 33,466,270 shares of the insurance provider’s stock valued at $748,972,000 after buying an additional 612,203 shares during the period. Institutional investors and hedge funds own 75.38% of the company’s stock.
Shares of Old Republic International stock opened at $22.80 on Wednesday. The business’s fifty day simple moving average is $23.11 and its 200 day simple moving average is $22.73. The firm has a market capitalization of $6.92 billion, a P/E ratio of 12.26 and a beta of 0.75. Old Republic International has a 12 month low of $19.55 and a 12 month high of $24.10. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, October 24th. The insurance provider reported $0.51 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.51. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates of $1.65 billion. Old Republic International had a return on equity of 9.76% and a net margin of 10.27%. Old Republic International’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the company posted $0.56 earnings per share. Analysts predict that Old Republic International will post 1.75 EPS for the current fiscal year.
ORI has been the topic of a number of recent analyst reports. Raymond James dropped their price target on Old Republic International from $27.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Friday, October 25th. Zacks Investment Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 16th. Finally, ValuEngine upgraded Old Republic International from a “sell” rating to a “hold” rating in a report on Friday, October 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the stock. Old Republic International has an average rating of “Hold” and an average price target of $25.00.
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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