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

Shares of Old Republic International Co. (NYSE:ORI - Get Free Report) gapped down prior to trading 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 changing hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ORI shares. StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. Piper Sandler upped their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an "overweight" rating in a report on Monday, April 1st.

Old Republic International Stock Down 0.9 %

The company has a 50-day moving average of $29.55 and a two-hundred day moving average of $28.88. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $8.27 billion, a PE ratio of 14.30 and a beta of 0.81.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $1.95 billion. Sell-side analysts anticipate that Old Republic International Co. will post 2.7 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a $0.265 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is a boost from Old Republic International's previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.53%. Old Republic International's dividend payout ratio is 50.48%.

Insider Activity at Old Republic International

In other Old Republic International news, Director Barbara Adachi acquired 1,925 shares of the stock in a transaction dated Friday, February 16th. The shares were acquired at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the transaction, the director now directly owns 7,845 shares of the company's stock, valued at $224,367. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Barbara Adachi acquired 1,925 shares of the business's stock in a transaction on Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, with a total value of $55,055.00. Following the acquisition, the director now directly owns 7,845 shares in the company, valued at approximately $224,367. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 6,528 shares of Old Republic International stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $27.71, for a total transaction of $180,890.88. Following the sale, the senior vice president now 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 owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ORI. Louisiana State Employees Retirement System lifted its position in shares of Old Republic International by 2.5% in the first quarter. Louisiana State Employees Retirement System now owns 75,000 shares of the insurance provider's stock worth $2,304,000 after buying an additional 1,800 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Old Republic International by 149.6% in the 1st quarter. Venturi Wealth Management LLC now owns 18,304 shares of the insurance provider's stock worth $562,000 after acquiring an additional 10,971 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of Old Republic International by 31.8% during the 1st quarter. Fifth Third Bancorp now owns 3,002 shares of the insurance provider's stock worth $92,000 after acquiring an additional 725 shares in the last quarter. Paradiem LLC boosted its position in shares of Old Republic International by 7.3% during the 1st quarter. Paradiem LLC now owns 285,731 shares of the insurance provider's stock valued at $8,778,000 after acquiring an additional 19,379 shares during the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of Old Republic International by 2.4% in the first quarter. State of Michigan Retirement System now owns 64,078 shares of the insurance provider's stock valued at $1,968,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

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.