Old Republic International (NYSE:ORI) SVP Carolyn Monroe Sells 1,788 Shares of Stock

Key Points

• Insider sale: SVP Carolyn Monroe sold 1,788 Old Republic International shares for approximately $75,561 to cover tax withholding on vested equity awards, reducing her holdings by 5.25% to 32,261 shares.
• Financial performance: The insurer reported quarterly revenue of $2.50 billion, up 5.2% year over year, but earnings per share of $0.76 fell short of the $0.79 analyst consensus.
• Stock and outlook: ORI traded near $42.53 and pays a $1.26 annualized dividend, yielding about 3.0%. Analysts maintain a “Moderate Buy” consensus with a $41.50 average price target.

Old Republic International Corporation (NYSE:ORI - Get Free Report) SVP Carolyn Monroe sold 1,788 shares of Old Republic International stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $42.26, for a total value of $75,560.88. Following the completion of the transaction, the senior vice president owned 32,261 shares of the company's stock, valued at $1,363,349.86. The trade was a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Stock Up 0.1%

NYSE ORI traded up $0.06 on Thursday, hitting $42.53. 247,178 shares of the stock were exchanged, compared to its average volume of 1,663,740. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $41.09 and a 200-day moving average price of $40.59. The company has a market cap of $10.27 billion, a PE ratio of 10.05 and a beta of 0.58. Old Republic International Corporation has a fifty-two week low of $36.65 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.03). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm's quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.81 earnings per share. Sell-side analysts anticipate that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.0%. The ex-dividend date was Friday, June 5th. Old Republic International's dividend payout ratio is currently 29.79%.

Analyst Ratings Changes

Several equities research analysts recently commented on ORI shares. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research note on Monday, April 27th. Weiss Ratings restated a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Piper Sandler dropped their price objective on Old Republic International from $40.00 to $39.00 and set a "neutral" rating on the stock in a report on Friday, July 24th. Finally, Zacks Research raised Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Old Republic International has a consensus rating of "Moderate Buy" and a consensus price target of $41.50.

Hedge Funds Weigh In On Old Republic International

Several institutional investors have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Old Republic International by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider's stock valued at $477,000 after purchasing an additional 2,867 shares during the last quarter. NewEdge Advisors LLC lifted its holdings in shares of Old Republic International by 121.9% during the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider's stock worth $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp raised its position in Old Republic International by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider's stock worth $178,000 after buying an additional 2,493 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Old Republic International by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider's stock valued at $62,480,000 after acquiring an additional 148,891 shares in the last quarter. Finally, Sivia Capital Partners LLC increased its stake in shares of Old Republic International by 31.8% during the second quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider's stock worth $323,000 after acquiring an additional 2,028 shares during the period. Institutional investors and hedge funds 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. 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.

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