Old Republic International (NYSE:ORI) Announces Earnings Results

Old Republic International (NYSE:ORI) issued its quarterly earnings results on Thursday. The insurance provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.06), Zacks reports. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%. During the same quarter in the prior year, the business posted $0.78 earnings per share.

Old Republic International Trading Down 1.5%

Shares of NYSE:ORI traded down $0.62 during trading on Thursday, reaching $39.51. 496,650 shares of the company traded hands, compared to its average volume of 1,610,856. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38. Old Republic International has a 52-week low of $36.65 and a 52-week high of $46.76. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 9.34 and a beta of 0.56. The business’s fifty day moving average is $40.17 and its 200-day moving average is $40.41.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were paid a dividend of $0.3150 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 4th. Old Republic International’s dividend payout ratio is 29.79%.

Wall Street Analyst Weigh In

ORI has been the topic of a number of research analyst reports. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings cut Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, September 18th. Finally, Piper Sandler lowered their price target on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $41.50.

Insider Buying and Selling

In related news, SVP Jeffrey Lange sold 14,075 shares of the company’s stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president directly owned 12,244 shares in the company, valued at $535,797.44. This represents a 53.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephen J. Oberst sold 13,125 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares of the company’s stock, valued at $3,613,731.80. The trade was a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 33,374 shares of company stock valued at $1,452,714 over the last three months. 1.32% of the stock is owned by company insiders.

About Old Republic International

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.