Short Interest in Old Republic International Co. (NYSE:ORI) Expands By 25.7%

Old Republic International Co. (NYSE:ORI) saw 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. Based on an average daily trading volume, of 1,270,000 shares, the short-interest ratio is currently 2.8 days. Currently, 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of brokerages have issued reports on ORI. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Piper Sandler increased their price target on shares of Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st.

Insiders Place Their Bets

In other news, VP Thomas Dare sold 27,457 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Carolyn Monroe sold 9,188 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total transaction of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares in the company, valued at $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Old Republic International

Several hedge funds have recently made changes to their positions in the business. HFG Advisors Inc. lifted its holdings in Old Republic International by 7.8% during the 1st quarter. HFG Advisors Inc. now owns 8,844 shares of the insurance provider’s stock worth $347,000 after buying an additional 639 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Old Republic International by 0.4% in the first quarter. State of Alaska Department of Revenue now owns 194,922 shares of the insurance provider’s stock valued at $7,644,000 after purchasing an additional 730 shares during the period. Dunhill Financial LLC purchased a new stake in Old Republic International during the 1st quarter worth about $37,000. Sagespring Wealth Partners LLC acquired a new stake in Old Republic International in the 1st quarter valued at about $254,000. Finally, Trust Point Inc. boosted its stake in shares of Old Republic International by 17.8% in the 1st quarter. Trust Point Inc. now owns 8,068 shares of the insurance provider’s stock valued at $316,000 after buying an additional 1,217 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Stock Down 2.9 %

Shares of NYSE:ORI opened at $36.72 on Tuesday. The business has a 50-day moving average price of $37.41 and a 200 day moving average price of $36.69. Old Republic International has a 12-month low of $28.65 and a 12-month 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. The company has a market capitalization of $9.08 billion, a price-to-earnings ratio of 13.96 and a beta of 0.68.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Sell-side analysts expect that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a $0.29 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s payout ratio is currently 44.11%.

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.