Old Republic International (NYSE:ORI) Shares Gap Down to $30.30

Old Republic International Co. (NYSE:ORI) gapped down before the market opened on Thursday . The stock had previously closed at $30.30, but opened at $28.65. Old Republic International shares last traded at $29.82, with a volume of 588,021 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on ORI. Piper Sandler lifted their price objective on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday.

Old Republic International Price Performance

The stock has a market cap of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81. The business’s 50-day simple moving average is $29.58 and its 200-day simple moving average is $28.90. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.31.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. On average, research analysts expect that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Friday, March 8th. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s dividend payout ratio is currently 41.25%.

Insider Activity at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at approximately $979,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Barbara Adachi bought 1,925 shares of the stock in a transaction dated Friday, February 16th. The stock was bought at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the purchase, the director now directly owns 7,845 shares in the company, valued at approximately $224,367. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 6,528 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the sale, the senior vice president now directly owns 35,340 shares in the company, valued at approximately $979,271.40. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Republic International

Institutional investors and hedge funds have recently bought and sold shares of the company. Allworth Financial LP increased its position in shares of Old Republic International by 1,069.4% during the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 909 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Old Republic International in the fourth quarter worth $29,000. Naples Money Management LLC bought a new position in shares of Old Republic International during the fourth quarter valued at $34,000. GAMMA Investing LLC purchased a new stake in shares of Old Republic International during the fourth quarter valued at $34,000. Finally, Blue Trust Inc. increased its holdings in Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock worth $37,000 after buying an additional 526 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

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.