Short Interest in Old Republic International Corporation (NYSE:ORI) Decreases By 27.0%

Old Republic International Corporation (NYSE:ORI) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 5,044,181 shares, a decline of 27.0% from the December 31st total of 6,906,991 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average trading volume of 1,644,010 shares, the days-to-cover ratio is presently 3.1 days. Based on an average trading volume of 1,644,010 shares, the days-to-cover ratio is presently 3.1 days. Currently, 2.1% of the company’s stock are sold short.

Old Republic International Trading Up 0.2%

Shares of NYSE ORI traded up $0.08 during mid-day trading on Friday, reaching $39.17. 2,536,538 shares of the company’s stock were exchanged, compared to its average volume of 2,041,001. Old Republic International has a 52-week low of $34.43 and a 52-week high of $46.76. The company’s 50-day moving average is $43.78 and its 200-day moving average is $41.47. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.64.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.31 billion. Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter last year, the business posted $0.90 earnings per share. Analysts expect that Old Republic International will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were issued a $2.50 dividend. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is currently 34.22%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ORI shares. Piper Sandler restated a “neutral” rating and set a $38.00 target price (down previously from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Weiss Ratings restated a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Finally, Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insider Buying and Selling at Old Republic International

In related news, Director Therace Risch bought 1,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was bought at an average cost of $39.14 per share, for a total transaction of $39,140.00. Following the completion of the transaction, the director owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction dated 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 transaction, the senior vice president owned 29,075 shares in the company, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Old Republic International by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock worth $1,081,745,000 after buying an additional 123,954 shares in the last quarter. AQR Capital Management LLC lifted its stake in Old Republic International by 30.7% during 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 period. Dimensional Fund Advisors LP lifted its holdings in Old Republic International by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock valued at $285,268,000 after purchasing an additional 116,549 shares during the last quarter. Hamlin Capital Management LLC grew its holdings in Old Republic International by 0.3% during the 2nd quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock worth $200,166,000 after acquiring an additional 15,920 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Old Republic International by 2,840.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after purchasing an additional 3,793,085 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.