Stephen Oberst Sells 13,125 Shares of Old Republic International (NYSE:ORI) Stock

Old Republic International Corporation (NYSE:ORI) EVP Stephen Oberst sold 13,125 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total value of $576,975.00. Following the transaction, the executive vice president directly owned 82,205 shares in the company, valued at $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Stock Down 0.2%

NYSE ORI opened at $43.29 on Friday. The stock has a market cap of $10.51 billion, a PE ratio of 10.23 and a beta of 0.58. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The business has a 50 day moving average price of $40.27 and a two-hundred day moving average price of $40.57. The company has a quick ratio of 0.23, a current ratio of 0.68 and a debt-to-equity ratio of 0.38.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. As a group, sell-side analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s dividend payout ratio (DPR) is presently 29.79%.

Institutional Trading of Old Republic International

A number of hedge funds and other institutional investors have recently made changes to their positions in ORI. Insight Wealth Strategies LLC boosted its stake in Old Republic International by 23.3% during the 2nd quarter. Insight Wealth Strategies LLC now owns 85,627 shares of the insurance provider’s stock valued at $3,512,000 after acquiring an additional 16,203 shares during the last quarter. Fiduciary Financial Group LLC increased its position in shares of Old Republic International by 7.1% in the 2nd quarter. Fiduciary Financial Group LLC now owns 8,355 shares of the insurance provider’s stock worth $342,000 after purchasing an additional 551 shares during the last quarter. Handelsbanken Fonder AB raised its stake in shares of Old Republic International by 1.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 60,871 shares of the insurance provider’s stock valued at $2,491,000 after purchasing an additional 1,100 shares in the last quarter. Harrell Investment Partners LLC raised its stake in shares of Old Republic International by 16.1% in the 2nd quarter. Harrell Investment Partners LLC now owns 27,123 shares of the insurance provider’s stock valued at $1,110,000 after purchasing an additional 3,756 shares in the last quarter. Finally, Bill Few Associates Inc. lifted its position in shares of Old Republic International by 32.7% during the second quarter. Bill Few Associates Inc. now owns 8,291 shares of the insurance provider’s stock worth $339,000 after purchasing an additional 2,043 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

ORI has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Raymond James Financial set a $44.00 target price on Old Republic International in a research note on Monday, April 27th. Piper Sandler dropped their target price on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, July 24th. Finally, Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. One equities 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 company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

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.