JMP Securities Lowers Old Republic International (NYSE:ORI) to Market Perform

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JMP Securities cut shares of Old Republic International (NYSE:ORI) from an outperform rating to a market perform rating in a research note published on Friday, BenzingaRatingsTable reports.

Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of FirstService from a strong sell rating to a hold rating and set a $110.00 price objective on the stock in a research note on Tuesday, June 25th. TheStreet upgraded shares of United States Lime & Minerals from a c+ rating to a b rating in a research note on Wednesday, March 20th.

NYSE ORI opened at $22.99 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $7.03 billion, a price-to-earnings ratio of 12.36 and a beta of 0.84. Old Republic International has a one year low of $19.55 and a one year high of $23.29. The company has a fifty day simple moving average of $22.66.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. Old Republic International had a net margin of 11.87% and a return on equity of 10.66%. Old Republic International’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. Research analysts anticipate that Old Republic International will post 1.85 EPS for the current year.

In other news, insider Charles S. Boone sold 30,500 shares of the business’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $22.69, for a total transaction of $692,045.00. Following the transaction, the insider now directly owns 22,750 shares in the company, valued at $516,197.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last quarter, insiders have bought 600 shares of company stock worth $13,500. Company insiders own 1.90% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Manning & Napier Group LLC increased its stake in shares of Old Republic International by 1.9% during the first quarter. Manning & Napier Group LLC now owns 34,990 shares of the insurance provider’s stock worth $731,000 after acquiring an additional 660 shares during the period. Louisiana State Employees Retirement System grew its position in Old Republic International by 0.9% during the first quarter. Louisiana State Employees Retirement System now owns 76,200 shares of the insurance provider’s stock worth $1,594,000 after buying an additional 700 shares during the period. Ridgewood Investments LLC grew its position in Old Republic International by 4.9% during the second quarter. Ridgewood Investments LLC now owns 17,894 shares of the insurance provider’s stock worth $400,000 after buying an additional 841 shares during the period. Twin Capital Management Inc. grew its position in Old Republic International by 0.5% during the first quarter. Twin Capital Management Inc. now owns 187,770 shares of the insurance provider’s stock worth $3,928,000 after buying an additional 940 shares during the period. Finally, Inlet Private Wealth LLC grew its position in Old Republic International by 5.3% during the first quarter. Inlet Private Wealth LLC now owns 19,999 shares of the insurance provider’s stock worth $418,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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