Short Interest in Old Republic International Co. (ORI) Expands By 83.4%
Old Republic International Co. (NYSE:ORI) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 5,638,791 shares, a growth of 83.4% from the November 30th total of 3,074,282 shares. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,601,805 shares, the short-interest ratio is presently 3.5 days.
Several equities analysts have weighed in on ORI shares. Zacks Investment Research raised Old Republic International from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $23.00 to $25.00 in a research report on Monday, October 30th.
Old Republic International (NYSE:ORI) opened at $21.18 on Thursday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $5,590.00, a price-to-earnings ratio of 15.69 and a beta of 1.36. Old Republic International has a 1 year low of $17.92 and a 1 year high of $21.56.
The firm also recently disclosed a None dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, January 9th. Old Republic International’s dividend payout ratio (DPR) is 56.30%.
In other Old Republic International news, CFO Karl W. Mueller sold 19,052 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $21.00, for a total transaction of $400,092.00. Following the completion of the transaction, the chief financial officer now owns 5,331 shares of the company’s stock, valued at $111,951. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO R Scott Rager sold 47,500 shares of the firm’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $21.00, for a total value of $997,500.00. Following the transaction, the chief operating officer now directly owns 40,000 shares of the company’s stock, valued at approximately $840,000. The disclosure for this sale can be found here. Insiders have sold 81,552 shares of company stock valued at $1,711,992 in the last three months. 2.00% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of ORI. Renaissance Technologies LLC boosted its holdings in shares of Old Republic International by 13.6% during the second quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance provider’s stock worth $133,300,000 after purchasing an additional 815,600 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Old Republic International during the second quarter worth $385,000. Janus Henderson Group PLC acquired a new stake in shares of Old Republic International during the second quarter worth $7,344,000. Capital Returns Management LLC boosted its holdings in shares of Old Republic International by 37.1% during the third quarter. Capital Returns Management LLC now owns 1,311,393 shares of the insurance provider’s stock worth $25,821,000 after purchasing an additional 354,975 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its holdings in shares of Old Republic International by 664.3% during the second quarter. Rafferty Asset Management LLC now owns 334,853 shares of the insurance provider’s stock worth $6,540,000 after purchasing an additional 291,039 shares during the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
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Old Republic International 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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