Old Republic International (NYSE:ORI) Sets New 12-Month High Following Better-Than-Expected Earnings

Shares of Old Republic International Co. (NYSE:ORI) reached a new 52-week high on Thursday following a stronger than expected earnings report. The stock traded as high as $32.81 and last traded at $32.76, with a volume of 541340 shares traded. The stock had previously closed at $31.94.

The insurance provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.61 by $0.15. The company had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. During the same quarter in the prior year, the company posted $0.62 EPS.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date of this dividend was Tuesday, June 4th. Old Republic International’s payout ratio is 41.25%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ORI. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Piper Sandler increased their price target on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st.

Insider Buying and Selling

In related news, VP Thomas Dare sold 1,292 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.95, for a total transaction of $39,987.40. Following the completion of the sale, the vice president now directly owns 47,764 shares in the company, valued at approximately $1,478,295.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Therace Risch acquired 6,086 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $29.77 per share, for a total transaction of $181,180.22. Following the purchase, the director now directly owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas Dare sold 1,292 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $30.95, for a total value of $39,987.40. Following the sale, the vice president now owns 47,764 shares of the company’s stock, valued at $1,478,295.80. The disclosure for this sale can be found here. Insiders sold 9,172 shares of company stock worth $282,286 in the last three months. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Old Republic International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ORI. Norges Bank purchased a new stake in Old Republic International in the fourth quarter valued at about $89,446,000. Vanguard Group Inc. raised its stake in Old Republic International by 6.3% in the first quarter. Vanguard Group Inc. now owns 28,156,630 shares of the insurance provider’s stock valued at $864,972,000 after buying an additional 1,661,147 shares during the last quarter. California Public Employees Retirement System raised its stake in Old Republic International by 174.1% in the fourth quarter. California Public Employees Retirement System now owns 1,380,617 shares of the insurance provider’s stock valued at $40,590,000 after buying an additional 876,872 shares during the last quarter. Los Angeles Capital Management LLC raised its stake in Old Republic International by 3,068.8% in the fourth quarter. Los Angeles Capital Management LLC now owns 488,434 shares of the insurance provider’s stock valued at $14,360,000 after buying an additional 473,020 shares during the last quarter. Finally, Dupree Financial Group LLC purchased a new stake in Old Republic International in the fourth quarter valued at about $7,596,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

The company has a market capitalization of $9.14 billion, a PE ratio of 13.08 and a beta of 0.83. The company has a quick ratio of 0.27, a current ratio of 1.25 and a debt-to-equity ratio of 0.33. The business has a 50 day simple moving average of $31.07 and a 200 day simple moving average of $30.09.

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.