Old Republic International (NYSE:ORI) Reaches New 1-Year High – Here’s What Happened

Old Republic International Co. (NYSE:ORI) shares reached a new 52-week high during mid-day trading on Friday . The company traded as high as $39.31 and last traded at $38.98, with a volume of 1521581 shares. The stock had previously closed at $39.05.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Old Republic International Trading Down 0.2 %

The firm has a fifty day moving average of $37.04 and a 200-day moving average of $36.42. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 14.82 and a beta of 0.83.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. As a group, equities analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is currently 44.11%.

Insider Buying and Selling

In other news, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of Old Republic International stock in a transaction on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares of the company’s stock, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 in the last quarter. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Old Republic International

A number of institutional investors have recently modified their holdings of ORI. Cerity Partners LLC lifted its holdings in Old Republic International by 11.4% during the 3rd quarter. Cerity Partners LLC now owns 14,052 shares of the insurance provider’s stock worth $498,000 after buying an additional 1,434 shares during the last quarter. Bank of Montreal Can raised its position in shares of Old Republic International by 36.1% during the 3rd quarter. Bank of Montreal Can now owns 63,083 shares of the insurance provider’s stock valued at $2,232,000 after acquiring an additional 16,744 shares in the last quarter. Brooklyn Investment Group bought a new position in Old Republic International during the third quarter worth $48,000. BNP Paribas Financial Markets boosted its holdings in Old Republic International by 138.6% in the third quarter. BNP Paribas Financial Markets now owns 40,403 shares of the insurance provider’s stock worth $1,431,000 after purchasing an additional 23,471 shares during the period. Finally, Bridgewater Associates LP increased its stake in Old Republic International by 103.7% during the third quarter. Bridgewater Associates LP now owns 162,591 shares of the insurance provider’s stock valued at $5,759,000 after purchasing an additional 82,772 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Old Republic International

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.