Old Republic International Co. (NYSE:ORI) Short Interest Update

Old Republic International Co. (NYSE:ORI - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totalling 3,520,000 shares, an increase of 25.7% from the March 15th total of 2,800,000 shares. Currently, 1.6% of the company's stock are short sold. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is presently 2.8 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler raised their price target on shares of Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st.

Old Republic International Trading Up 0.8 %

Shares of ORI traded up $0.30 during trading hours on Thursday, hitting $38.27. 83,350 shares of the stock traded hands, compared to its average volume of 1,227,420. The business has a fifty day moving average of $37.47 and a 200-day moving average of $36.71. The firm has a market capitalization of $9.46 billion, a PE ratio of 14.53 and a beta of 0.68. Old Republic International has a 1-year low of $28.65 and a 1-year high of $39.84. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Analysts expect that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.03%. Old Republic International's payout ratio is currently 44.11%.

Insider Activity at Old Republic International

In other news, SVP Jeffrey Lange sold 1,098 shares of Old Republic International stock in a transaction that occurred 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the completion of the transaction, the senior vice president now directly owns 33,556 shares of the company's stock, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,039 shares of company stock valued at $1,580,733. 1.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp boosted its holdings in shares of Old Republic International by 1.4% in the third quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider's stock valued at $1,236,000 after buying an additional 495 shares during the period. Barclays PLC increased its holdings in Old Republic International by 51.3% during the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock worth $9,665,000 after purchasing an additional 92,591 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Old Republic International in the 3rd quarter valued at about $531,000. Wilmington Savings Fund Society FSB acquired a new stake in Old Republic International in the 3rd quarter valued at approximately $28,000. Finally, Destination Wealth Management acquired a new position in Old Republic International during the third quarter worth $217,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.