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

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

Old Republic International Price Performance

Shares of Old Republic International stock opened at $43.35 on Friday. The firm has a market capitalization of $10.53 billion, a PE ratio of 10.25 and a beta of 0.58. The company has a current ratio of 0.68, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The business’s 50-day moving average price is $40.19 and its 200-day moving average price is $40.55.

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

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio is 29.79%.

Wall Street Analyst Weigh In

Several analysts have issued reports on ORI shares. Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Raymond James Financial set a $44.00 price objective on Old Republic International in a report on Monday, April 27th. Piper Sandler lowered their target price on 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. Finally, Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. One 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 an average rating of “Moderate Buy” and a consensus target price of $41.50.

Institutional Investors Weigh In On Old Republic International

A number of large investors have recently added to or reduced their stakes in ORI. Bank of New York Mellon Corp raised its stake in shares of Old Republic International by 3.3% during the first quarter. Bank of New York Mellon Corp now owns 12,241,253 shares of the insurance provider’s stock valued at $488,426,000 after acquiring an additional 388,866 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Old Republic International by 30.7% in the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after purchasing an additional 1,774,807 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Old Republic International by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock worth $268,202,000 after purchasing an additional 60,395 shares during the last quarter. Geode Capital Management LLC increased its holdings in Old Republic International by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock valued at $190,870,000 after purchasing an additional 72,857 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Old Republic International by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock valued at $170,364,000 after purchasing an additional 22,496 shares during the period. Institutional investors own 70.92% of the company’s stock.

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.