Zacks Investment Research Downgrades Old Republic International (NYSE:ORI) to Hold


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Zacks Investment Research lowered shares of Old Republic International (NYSE:ORI) from a strong-buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Old Republic International Corporation is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A small life and accident insurance business is also conducted in the U.S. and Canada, principally as an adjunct to the Company’s general insurance operations. “

Separately, Raymond James lifted their price target on Old Republic International from $21.00 to $25.00 and gave the company a strong-buy rating in a research note on Monday.

Shares of Old Republic International stock opened at $23.20 on Wednesday. The firm’s 50-day moving average price is $21.17 and its two-hundred day moving average price is $18.62. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 21.68 and a beta of 0.76. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.16. Old Republic International has a 12-month low of $13.08 and a 12-month high of $23.22.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Wednesday, January 27th. The insurance provider reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.32. Old Republic International had a net margin of 4.85% and a return on equity of 10.24%. The business had revenue of $2.05 billion for the quarter, compared to analyst estimates of $1.75 billion. During the same quarter last year, the business posted $0.47 EPS. The firm’s revenue for the quarter was up 16.6% on a year-over-year basis. On average, sell-side analysts expect that Old Republic International will post 1.9 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.22 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, March 8th. This represents a $0.88 annualized dividend and a yield of 3.79%. Old Republic International’s payout ratio is presently 47.83%.

In related news, Director Aldo C. Zucaro sold 100,000 shares of the business’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $20.00, for a total transaction of $2,000,000.00. Following the sale, the director now owns 1,420,000 shares in the company, valued at approximately $28,400,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen J. Oberst sold 14,000 shares of the business’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $19.21, for a total value of $268,940.00. Following the sale, the executive vice president now owns 20,771 shares in the company, valued at approximately $399,010.91. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 2,102 shares of company stock worth $41,894. 1.90% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. RWM Asset Management LLC bought a new position in Old Republic International in the 4th quarter valued at approximately $25,000. Eudaimonia Partners LLC raised its stake in shares of Old Republic International by 37.6% during the third quarter. Eudaimonia Partners LLC now owns 2,098 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 573 shares during the last quarter. JJJ Advisors Inc. lifted its holdings in shares of Old Republic International by 109.1% during the fourth quarter. JJJ Advisors Inc. now owns 1,857 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 969 shares during the period. Enterprise Trust & Investment Co bought a new stake in shares of Old Republic International in the fourth quarter worth $38,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in shares of Old Republic International in the fourth quarter worth $43,000. Institutional investors own 72.58% 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. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

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