Old Republic International (NYSE:ORI) Announces Quarterly Earnings Results

Old Republic International (NYSE:ORI) released its quarterly earnings data on Thursday. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11), Zacks reports. Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.81 EPS.

Old Republic International Stock Down 1.1%

Shares of NYSE:ORI traded down $0.47 on Thursday, reaching $41.60. The company had a trading volume of 631,641 shares, compared to its average volume of 1,859,301. Old Republic International has a 52-week low of $35.60 and a 52-week high of $46.76. The firm’s 50 day simple moving average is $41.04 and its 200-day simple moving average is $42.25. The firm has a market capitalization of $10.13 billion, a PE ratio of 12.27 and a beta of 0.72. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a $0.315 dividend. The ex-dividend date was Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio (DPR) is 37.17%.

Insiders Place Their Bets

In related news, Director John Eric Smith purchased 1,135 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were acquired at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director owned 4,276 shares of the company’s stock, valued at $184,295.60. The trade was a 36.13% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. This represents a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.32% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB increased its holdings in shares of Old Republic International by 28.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 222 shares during the period. Aptus Capital Advisors LLC increased its holdings in shares of Old Republic International by 5.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock valued at $247,000 after acquiring an additional 257 shares during the period. Quest Investment Management LLC increased its holdings in shares of Old Republic International by 1.0% in the 3rd quarter. Quest Investment Management LLC now owns 32,091 shares of the insurance provider’s stock valued at $1,363,000 after acquiring an additional 303 shares during the period. Schroder Investment Management Group boosted its position in shares of Old Republic International by 6.7% in the 3rd quarter. Schroder Investment Management Group now owns 5,752 shares of the insurance provider’s stock worth $240,000 after purchasing an additional 362 shares in the last quarter. Finally, Caerus Investment Advisors LLC boosted its position in shares of Old Republic International by 4.8% in the 4th quarter. Caerus Investment Advisors LLC now owns 8,835 shares of the insurance provider’s stock worth $403,000 after purchasing an additional 408 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler restated a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

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. 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.