Zacks Investment Research Downgrades Old Republic International Corporation (ORI) to Sell

Old Republic International Corporation (NYSE:ORI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday, August 2nd.

According to Zacks, “Old Republic International Corporation is Chicago-based and is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title and life and health insurance fields. “

Separately, BidaskClub downgraded shares of Old Republic International Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th.

Shares of Old Republic International Corporation (NYSE:ORI) traded down 0.16% on Wednesday, hitting $19.10. 1,245,911 shares of the stock traded hands. The firm’s 50 day moving average is $19.53 and its 200 day moving average is $20.04. Old Republic International Corporation has a 52 week low of $16.51 and a 52 week high of $21.19. The firm has a market capitalization of $4.99 billion, a PE ratio of 12.04 and a beta of 1.32.

Old Republic International Corporation (NYSE:ORI) last issued its earnings results on Thursday, July 27th. The insurance provider reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. The firm had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.46 billion. Old Republic International Corporation had a return on equity of 9.41% and a net margin of 7.64%. Old Republic International Corporation’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.35 earnings per share. On average, analysts expect that Old Republic International Corporation will post $1.45 EPS for the current fiscal year.

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In other Old Republic International Corporation news, Director Arnold L. Steiner sold 20,000 shares of Old Republic International Corporation stock in a transaction on Friday, June 16th. The shares were sold at an average price of $20.24, for a total transaction of $404,800.00. Following the completion of the transaction, the director now directly owns 270,237 shares of the company’s stock, valued at $5,469,596.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven J. Bateman acquired 5,000 shares of Old Republic International Corporation stock in a transaction on Monday, May 15th. The shares were bought at an average cost of $19.56 per share, with a total value of $97,800.00. Following the completion of the transaction, the director now owns 15,000 shares of the company’s stock, valued at $293,400. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ORI. Rothschild Investment Corp IL boosted its position in Old Republic International Corporation by 7.2% in the first quarter. Rothschild Investment Corp IL now owns 32,485 shares of the insurance provider’s stock worth $665,000 after buying an additional 2,185 shares during the period. Quantitative Systematic Strategies LLC boosted its position in Old Republic International Corporation by 56.2% in the first quarter. Quantitative Systematic Strategies LLC now owns 133,538 shares of the insurance provider’s stock worth $2,734,000 after buying an additional 48,025 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in Old Republic International Corporation during the first quarter worth approximately $2,887,000. Louisiana State Employees Retirement System boosted its position in Old Republic International Corporation by 2.2% in the first quarter. Louisiana State Employees Retirement System now owns 61,700 shares of the insurance provider’s stock worth $1,264,000 after buying an additional 1,300 shares during the period. Finally, Viking Fund Management LLC boosted its position in Old Republic International Corporation by 5.0% in the first quarter. Viking Fund Management LLC now owns 126,000 shares of the insurance provider’s stock worth $2,580,000 after buying an additional 6,000 shares during the period. 70.84% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Corporation Company Profile

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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