Old Republic International (NYSE:ORI) Releases Earnings Results, Misses Estimates By $0.06 EPS

Old Republic International (NYSE:ORI) issued its earnings results on Thursday. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.06), Zacks reports. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. During the same period in the prior year, the business earned $0.78 earnings per share.

Old Republic International Price Performance

Shares of Old Republic International stock traded down $0.62 during trading on Thursday, hitting $39.51. The stock had a trading volume of 496,650 shares, compared to its average volume of 1,610,856. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38. Old Republic International has a 12 month low of $36.65 and a 12 month high of $46.76. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 9.34 and a beta of 0.56. The business’s 50-day moving average is $40.17 and its 200 day moving average is $40.41.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were issued a $0.3150 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. Old Republic International’s dividend payout ratio is presently 29.79%.

Insider Activity at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 13,125 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total value 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 represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Carolyn Monroe sold 4,386 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $42.01, for a total value of $184,255.86. Following the completion of the sale, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,171,028.75. The trade was a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 33,374 shares of company stock valued at $1,452,714. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings cut shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, September 18th. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler cut their price target on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Old Republic International currently has an average rating of “Hold” and an average price target of $41.50.

About Old Republic International

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.