Old Republic International (NYSE:ORI) Shares Gap Down – What’s Next?

Old Republic International Corporation (NYSE:ORI)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $45.64, but opened at $42.85. Old Republic International shares last traded at $42.7140, with a volume of 58,395 shares changing hands.

Wall Street Analysts Forecast Growth

ORI has been the subject of a number of analyst reports. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Finally, Piper Sandler upped their price target on shares of Old Republic International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Strong Buy” and a consensus target price of $49.00.

Old Republic International Price Performance

The company has a market cap of $10.71 billion, a price-to-earnings ratio of 14.47 and a beta of 0.76. The company has a fifty day simple moving average of $43.93 and a two-hundred day simple moving average of $40.90. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.28 billion. On average, equities research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently declared a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd will be given a $2.50 dividend. The ex-dividend date is Friday, January 2nd. Old Republic International’s dividend payout ratio is currently 38.80%.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 6,680 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the transaction, the senior vice president owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Therace Risch purchased 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the acquisition, the director owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Institutional Trading of Old Republic International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPL Wealth Management LLC acquired a new stake in shares of Old Republic International during the 3rd quarter worth about $27,000. Quarry LP grew its stake in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 731 shares during the period. Clearstead Trust LLC raised its holdings in Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Old Republic International during the 2nd quarter worth $34,000. Finally, Core Alternative Capital purchased a new position in shares of Old Republic International during the 3rd quarter worth $42,000. Hedge funds and other 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.