Old Republic International (NYSE:ORI) Director Therace Risch Purchases 300 Shares
by Jessica Moore · The Cerbat GemOld Republic International Corporation (NYSE:ORI – Get Free Report) Director Therace Risch bought 300 shares of the company’s stock in a transaction dated Friday, May 1st. The stock was purchased at an average price of $39.90 per share, for a total transaction of $11,970.00. Following the purchase, the director owned 12,843 shares of the company’s stock, valued at approximately $512,435.70. This represents a 2.39% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Old Republic International Stock Up 1.0%
Shares of NYSE ORI traded up $0.38 during midday trading on Tuesday, hitting $38.87. The stock had a trading volume of 342,157 shares, compared to its average volume of 1,860,397. The business’s 50 day moving average is $40.78 and its 200-day moving average is $42.11. The company has a market cap of $9.47 billion, a P/E ratio of 10.42 and a beta of 0.63. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The company has a quick ratio of 0.27, a current ratio of 0.60 and a debt-to-equity ratio of 0.27.
Old Republic International (NYSE:ORI – Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.81 EPS. As a group, analysts predict that Old Republic International Corporation will post 2.95 EPS for the current year.
Old Republic International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. Old Republic International’s dividend payout ratio is presently 33.78%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on ORI shares. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a report on Monday, April 27th. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Piper Sandler boosted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.
Read Our Latest Research Report on ORI
Hedge Funds Weigh In On Old Republic International
Institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC purchased a new position in Old Republic International during the fourth quarter valued at $26,000. Torren Management LLC purchased a new position in Old Republic International during the fourth quarter valued at $27,000. Commonwealth Retirement Investments LLC purchased a new position in Old Republic International during the fourth quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in Old Republic International during the third quarter valued at $27,000. Finally, Quest 10 Wealth Builders Inc. purchased a new position in Old Republic International during the fourth quarter valued at $31,000. 70.92% of the stock is owned by hedge funds and other institutional investors.
About Old Republic International
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.