Old Republic International (NYSE:ORI) Shares Gap Down to $30.30

Old Republic International Co. (NYSE:ORI)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $30.30, but opened at $28.65. Old Republic International shares last traded at $29.82, with a volume of 588,021 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ORI. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday. Piper Sandler lifted their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st.

Old Republic International Stock Performance

The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $29.58 and a two-hundred day moving average price of $28.90. The firm has a market cap of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. The firm had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Research analysts forecast that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a $0.265 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s dividend payout ratio (DPR) is currently 41.25%.

Insider Buying and Selling

In other Old Republic International news, Director Barbara Adachi bought 1,925 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were acquired at an average cost of $28.60 per share, with a total value of $55,055.00. Following the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Barbara Adachi bought 1,925 shares of the business’s stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, with a total value of $55,055.00. Following the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at $224,367. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,528 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total transaction of $180,890.88. Following the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at approximately $979,271.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Republic International

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Avantax Planning Partners Inc. increased its stake in Old Republic International by 5.0% during the third quarter. Avantax Planning Partners Inc. now owns 9,688 shares of the insurance provider’s stock worth $261,000 after acquiring an additional 463 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its position in Old Republic International by 5.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,424 shares of the insurance provider’s stock valued at $248,000 after buying an additional 465 shares during the last quarter. Fifth Third Bancorp boosted its stake in Old Republic International by 26.6% during the third quarter. Fifth Third Bancorp now owns 2,277 shares of the insurance provider’s stock worth $61,000 after buying an additional 479 shares during the period. Nomura Asset Management Co. Ltd. increased its position in shares of Old Republic International by 13.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,210 shares of the insurance provider’s stock valued at $113,000 after acquiring an additional 500 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its holdings in shares of Old Republic International by 2.4% in the 3rd quarter. Moors & Cabot Inc. now owns 21,030 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 70.92% 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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.