Old Republic International (NYSE:ORI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Old Republic International Corporation (NYSE:ORI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $40.79 and traded as high as $42.07. Old Republic International shares last traded at $41.78, with a volume of 1,746,816 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ORI. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Piper Sandler lowered their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. One investment 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 company. According to data from MarketBeat, Old Republic International currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.50.

Old Republic International Stock Up 1.0%

The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. The stock’s 50 day simple moving average is $42.12 and its 200 day simple moving average is $40.79. The firm has a market cap of $10.17 billion, a P/E ratio of 9.96 and a beta of 0.57.

Old Republic International (NYSE:ORI) last posted its earnings results 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 business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm earned $0.81 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Research analysts anticipate that Old Republic International Corporation will post 2.91 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be given a dividend of $0.315 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. Old Republic International’s payout ratio is presently 29.79%.

Insider Buying and Selling at Old Republic International

In other news, EVP Stephen J. Oberst sold 13,125 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total value of $576,975.00. Following the completion of the sale, the executive vice president owned 82,205 shares in the company, valued at $3,613,731.80. This represents a 13.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 1,788 shares of Old Republic International stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $42.26, for a total value of $75,560.88. Following the sale, the senior vice president owned 32,261 shares in the company, valued at $1,363,349.86. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 28,988 shares of company stock worth $1,268,458. Corporate insiders own 1.32% of the company’s stock.

Institutional Trading of Old Republic International

A number of hedge funds have recently modified their holdings of the business. Commonwealth Retirement Investments LLC purchased a new position in shares of Old Republic International in the fourth quarter worth $27,000. JPL Wealth Management LLC bought a new stake in shares of Old Republic International in the 3rd quarter worth about $27,000. Hilton Head Capital Partners LLC bought a new stake in shares of Old Republic International in the 4th quarter worth about $38,000. International Assets Investment Management LLC purchased a new stake in shares of Old Republic International during the fourth quarter valued at $41,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in shares of Old Republic International by 28.1% in the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 222 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

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.