Short Interest in Old Republic International Corporation (NYSE:ORI) Rises By 24.6%

Old Republic International Corporation (NYSE:ORI) was the recipient of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 7,507,417 shares, an increase of 24.6% from the February 12th total of 6,024,966 shares. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 2,327,828 shares, the days-to-cover ratio is presently 3.2 days. Based on an average daily trading volume, of 2,327,828 shares, the days-to-cover ratio is presently 3.2 days. Approximately 3.1% of the company’s shares are sold short.

Insider Buying and Selling

In other Old Republic International news, Director John Eric Smith purchased 1,135 shares of the stock in a transaction dated Monday, March 2nd. The stock was 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 in the company, valued at $184,295.60. This trade represents a 36.13% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $39.28, for a total value of $217,061.28. Following the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

Several large investors have recently bought and sold shares of ORI. V Square Quantitative Management LLC purchased a new position in Old Republic International in the 4th quarter valued at $26,000. Torren Management LLC acquired a new stake in shares of Old Republic International in the 4th quarter worth $27,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Old Republic International in the fourth quarter valued at about $27,000. JPL Wealth Management LLC purchased a new stake in shares of Old Republic International in the third quarter valued at about $27,000. Finally, Clearstead Trust LLC increased its stake in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ORI. Weiss Ratings raised shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $42.50.

Old Republic International Trading Down 0.1%

NYSE:ORI traded down $0.05 on Tuesday, reaching $40.31. 544,830 shares of the company’s stock were exchanged, compared to its average volume of 1,940,902. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 11.88 and a beta of 0.73. The business has a fifty day moving average of $41.50 and a 200-day moving average of $42.33. Old Republic International has a 52-week low of $34.43 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter last year, the firm posted $0.90 earnings per share. As a group, analysts expect that Old Republic International will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a $0.315 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. Old Republic International’s payout ratio is 37.17%.

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.