Short Interest in Old Republic International Corporation (NYSE:ORI) Rises By 24.6%

Old Republic International Corporation (NYSE:ORI) was the recipient of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 7,507,417 shares, a growth of 24.6% from the February 12th total of 6,024,966 shares. Based on an average daily volume of 2,327,828 shares, the days-to-cover ratio is currently 3.2 days. Approximately 3.1% of the company’s stock are short sold. Approximately 3.1% of the company’s stock are short sold. Based on an average daily volume of 2,327,828 shares, the days-to-cover ratio is currently 3.2 days.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Weiss Ratings raised shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Finally, Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity

In other news, Director John Eric Smith acquired 1,135 shares of Old Republic International stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, with a total value of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $39.28, for a total value of $217,061.28. Following the transaction, the senior vice president owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. The trade was a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Old Republic International

Large investors have recently modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in Old Republic International during the fourth quarter valued at $26,000. Torren Management LLC bought a new stake in shares of Old Republic International in the fourth quarter valued at $27,000. Commonwealth Retirement Investments LLC purchased a new position in shares of Old Republic International during the 4th quarter valued at $27,000. JPL Wealth Management LLC purchased a new position in shares of Old Republic International during the 3rd quarter valued at $27,000. Finally, Clearstead Trust LLC grew its stake in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 288 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Down 0.4%

ORI stock traded down $0.18 during trading on Tuesday, reaching $40.18. The stock had a trading volume of 1,329,972 shares, compared to its average volume of 1,957,002. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.87 billion, a price-to-earnings ratio of 11.85 and a beta of 0.73. Old Republic International has a one year low of $34.43 and a one year high of $46.76. The company’s 50 day moving average is $41.50 and its two-hundred day moving average is $42.33.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the previous year, the company posted $0.90 earnings per share. Equities research analysts forecast that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be given a $0.315 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s payout ratio is presently 37.17%.

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.