Old Republic International (ORI) Reaches New 12-Month High at $22.93

Old Republic International Co. (NYSE:ORI) hit a new 52-week high on Thursday . The stock traded as high as $22.93 and last traded at $22.85, with a volume of 64759 shares changing hands. The stock had previously closed at $22.82.

Separately, Zacks Investment Research raised shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Wednesday, August 1st.

The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 20.53 and a beta of 1.23. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.49 and a current ratio of 0.49.



Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 26th. The insurance provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.07. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.49 billion. Old Republic International had a net margin of 8.72% and a return on equity of 7.53%. During the same quarter in the prior year, the company posted $0.35 EPS. analysts anticipate that Old Republic International Co. will post 1.75 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Tuesday, September 4th were given a dividend of $0.195 per share. The ex-dividend date was Friday, August 31st. This represents a $0.78 annualized dividend and a yield of 3.41%. Old Republic International’s payout ratio is currently 70.27%.

In other Old Republic International news, CFO Karl W. Mueller sold 9,879 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $22.00, for a total value of $217,338.00. Following the completion of the transaction, the chief financial officer now directly owns 26,787 shares in the company, valued at approximately $589,314. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in Old Republic International by 6.9% in the 2nd quarter. BlackRock Inc. now owns 27,797,852 shares of the insurance provider’s stock worth $553,455,000 after purchasing an additional 1,798,214 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Old Republic International by 1.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,126,185 shares of the insurance provider’s stock worth $141,884,000 after purchasing an additional 130,669 shares in the last quarter. Millennium Management LLC raised its holdings in Old Republic International by 178.4% in 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 in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in Old Republic International by 1.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,557,968 shares of the insurance provider’s stock worth $70,839,000 after purchasing an additional 46,615 shares in the last quarter. Finally, Hamlin Capital Management LLC raised its holdings in Old Republic International by 63.5% in the 2nd quarter. Hamlin Capital Management LLC now owns 2,796,753 shares of the insurance provider’s stock worth $55,683,000 after purchasing an additional 1,086,120 shares in the last quarter. Institutional investors and hedge funds own 72.67% of the company’s stock.

About Old Republic International (NYSE:ORI)

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.

See Also: Average Daily Trade Volume – ADTV

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