Old Republic International (NYSE:ORI) Posts Quarterly Earnings Results

Old Republic International (NYSE:ORI) issued its quarterly earnings data on Thursday. The insurance provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15), Zacks reports. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the previous year, the business earned $0.90 EPS.

Old Republic International Trading Up 0.3%

Shares of ORI stock opened at $43.14 on Thursday. The company has a market cap of $10.68 billion, a PE ratio of 14.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26. The stock’s 50 day simple moving average is $44.57 and its two-hundred day simple moving average is $41.35. Old Republic International has a 1 year low of $34.43 and a 1 year high of $46.76.

Old Republic International Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were given a dividend of $2.50 per share. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is 38.80%.

Insider Activity at Old Republic International

In related news, Director Therace Risch purchased 1,000 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $39.14 per share, for a total transaction of $39,140.00. Following the acquisition, the director owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. This represents a 10.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Carolyn Monroe sold 6,680 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.54, for a total value of $297,527.20. Following the completion of the sale, the senior vice president owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

Several hedge funds have recently added to or reduced their stakes in ORI. AQR Capital Management LLC lifted its stake in Old Republic International by 55.7% in the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock worth $221,457,000 after purchasing an additional 2,066,965 shares during the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Old Republic International in the second quarter worth approximately $27,289,000. Port Capital LLC bought a new stake in shares of Old Republic International during the 3rd quarter worth approximately $20,632,000. UBS Group AG lifted its stake in shares of Old Republic International by 73.7% during the 3rd quarter. UBS Group AG now owns 1,001,579 shares of the insurance provider’s stock worth $42,537,000 after acquiring an additional 425,052 shares during the last quarter. Finally, Focus Partners Wealth boosted its holdings in Old Republic International by 164.2% during the 3rd quarter. Focus Partners Wealth now owns 543,039 shares of the insurance provider’s stock valued at $23,063,000 after acquiring an additional 337,485 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Weiss Ratings reissued a “buy (a)” rating on shares of Old Republic International in a research note on Wednesday, December 24th. Piper Sandler upped their price objective on Old Republic International from $46.00 to $51.00 and gave the stock an “overweight” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus price target of $49.00.

About Old Republic International

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.