Old Republic International Co. (ORI) Short Interest Update

Old Republic International Co. (NYSE:ORI) was the target of a large drop in short interest in the month of May. As of May 31st, there was short interest totalling 3,167,856 shares, a drop of 48.5% from the May 15th total of 6,155,956 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,496,337 shares, the days-to-cover ratio is currently 2.1 days.

ORI stock opened at $21.09 on Wednesday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.19. Old Republic International has a 52-week low of $17.92 and a 52-week high of $22.34. The company has a market cap of $6.36 billion, a price-to-earnings ratio of 19.00 and a beta of 1.26.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.01). Old Republic International had a return on equity of 6.80% and a net margin of 7.34%. The business had revenue of $1.47 billion for the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter in the prior year, the firm earned $0.39 earnings per share. Old Republic International’s revenue for the quarter was up 2.6% compared to the same quarter last year. equities analysts forecast that Old Republic International will post 1.7 EPS for the current fiscal year.



The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were issued a dividend of $0.195 per share. The ex-dividend date of this dividend was Monday, June 4th. This represents a $0.78 annualized dividend and a yield of 3.70%. Old Republic International’s dividend payout ratio is presently 70.27%.

ORI has been the topic of several analyst reports. Zacks Investment Research downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. ValuEngine downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.00.

In related news, VP Charles S. Boone sold 24,000 shares of the firm’s stock in a transaction dated Friday, May 25th. The stock was sold at an average price of $21.30, for a total transaction of $511,200.00. Following the sale, the vice president now directly owns 20,250 shares in the company, valued at approximately $431,325. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Spencer Leroy III sold 24,400 shares of the firm’s stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $21.35, for a total value of $520,940.00. Following the sale, the director now owns 69,099 shares in the company, valued at $1,475,263.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,900 shares of company stock worth $2,555,790. Company insiders own 1.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its holdings in Old Republic International by 1.8% during the 1st quarter. BlackRock Inc. now owns 25,999,638 shares of the insurance provider’s stock worth $557,692,000 after purchasing an additional 467,644 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Old Republic International by 16.2% during the 4th quarter. Renaissance Technologies LLC now owns 9,023,085 shares of the insurance provider’s stock worth $192,914,000 after purchasing an additional 1,257,200 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in Old Republic International by 3.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 5,049,227 shares of the insurance provider’s stock worth $107,952,000 after purchasing an additional 176,813 shares during the last quarter. Millennium Management LLC increased its holdings in Old Republic International by 178.4% during the 1st quarter. Millennium Management LLC now owns 4,014,006 shares of the insurance provider’s stock worth $86,100,000 after purchasing an additional 2,572,151 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Old Republic International by 5.9% during the 1st quarter. Prudential Financial Inc. now owns 3,841,401 shares of the insurance provider’s stock worth $82,398,000 after purchasing an additional 214,415 shares during the last quarter. Institutional investors own 74.25% 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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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