Insider Selling: Old Republic International Corporation (ORI) COO Sells $997,500.00 in Stock
Old Republic International Corporation (NYSE:ORI) COO R Scott Rager sold 47,500 shares of Old Republic International stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $21.00, for a total transaction of $997,500.00. Following the completion of the transaction, the chief operating officer now directly owns 40,000 shares in the company, valued at $840,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Old Republic International Corporation (NYSE:ORI) opened at $20.70 on Thursday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.32. Old Republic International Corporation has a 1-year low of $17.92 and a 1-year high of $21.19. The stock has a market cap of $5,463.44, a price-to-earnings ratio of 16.98 and a beta of 1.36.
Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.06. Old Republic International had a net margin of 6.45% and a return on equity of 7.50%. The business had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same period in the previous year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. sell-side analysts anticipate that Old Republic International Corporation will post 1.17 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Monday, December 4th. Old Republic International’s dividend payout ratio (DPR) is presently 55.47%.
ORI has been the topic of several analyst reports. Zacks Investment Research raised shares of Old Republic International from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $23.00 to $25.00 in a report on Monday, October 30th.
Several institutional investors and hedge funds have recently made changes to their positions in ORI. Valeo Financial Advisors LLC purchased a new stake in shares of Old Republic International during the third quarter valued at $118,000. Ffcm LLC grew its holdings in shares of Old Republic International by 185.0% during the second quarter. Ffcm LLC now owns 6,008 shares of the insurance provider’s stock valued at $119,000 after buying an additional 3,900 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Old Republic International by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock valued at $155,000 after buying an additional 3,513 shares during the last quarter. Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in shares of Old Republic International during the second quarter valued at $174,000. Finally, Chicago Partners Investment Group LLC purchased a new stake in shares of Old Republic International during the second quarter valued at $181,000. 70.67% of the stock is currently owned by hedge funds and other institutional investors.
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About Old Republic International
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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