Stephen Oberst Sells 13,125 Shares of Old Republic International (NYSE:ORI) Stock

Key Points

• Insider sale: Executive Vice President Stephen Oberst sold 13,125 Old Republic International shares for approximately $576,975 to cover tax withholding tied to vested equity awards, reducing his direct ownership by 13.77%.
• Financial performance: Old Republic reported quarterly revenue of $2.50 billion, up 5.2% year over year and above estimates, while earnings per share of $0.76 fell short of the $0.79 consensus.
• Stock and outlook: Shares recently traded at $43.20, down 3.1%, while the company maintained a quarterly dividend of $0.315 per share, equivalent to a 2.9% yield. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $41.50.

Old Republic International Corporation (NYSE:ORI - Get Free Report) EVP Stephen Oberst sold 13,125 shares of Old Republic International stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total transaction of $576,975.00. Following the transaction, the executive vice president directly owned 82,205 shares in the company, valued at $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Old Republic International Trading Down 3.1%

ORI stock traded down $1.40 during midday trading on Thursday, hitting $43.20. 600,179 shares of the company's stock were exchanged, compared to its average volume of 1,699,311. The business has a 50-day simple moving average of $40.12 and a two-hundred day simple moving average of $40.54. The company has a current ratio of 0.68, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.49 billion, a PE ratio of 10.21 and a beta of 0.58. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76.

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

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, June 5th. Old Republic International's payout ratio is 29.79%.

Institutional Investors Weigh In On Old Republic International

Several hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Old Republic International by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider's stock valued at $477,000 after acquiring an additional 2,867 shares in the last quarter. NewEdge Advisors LLC lifted its position in Old Republic International by 121.9% in the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider's stock valued at $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp lifted its position in Old Republic International by 122.1% in the first quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider's stock valued at $178,000 after purchasing an additional 2,493 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Old Republic International by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider's stock valued at $62,480,000 after purchasing an additional 148,891 shares in the last quarter. Finally, Sivia Capital Partners LLC boosted its holdings in Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider's stock valued at $323,000 after purchasing an additional 2,028 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Analyst Upgrades and Downgrades

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

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. 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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