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

Old Republic International (NYSE:ORI) was downgraded by stock analysts at JMP Securities from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, The Fly reports.

Several other equities research analysts have also issued reports on ORI. Zacks Investment Research raised shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price for the company in a report on Tuesday, June 25th. TheStreet raised shares of United States Lime & Minerals from a “c+” rating to a “b” rating in a report on Wednesday, March 20th.

NYSE ORI opened at $22.93 on Friday. Old Republic International has a 52 week low of $19.55 and a 52 week high of $23.19. The stock has a market cap of $6.93 billion, a price-to-earnings ratio of 12.33 and a beta of 0.84. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.17. The company’s 50-day simple moving average is $22.60.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The firm had revenue of $1.50 billion during 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%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, analysts forecast that Old Republic International will post 1.85 EPS for the current fiscal year.

In related news, insider Charles S. Boone sold 30,500 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $22.69, for a total value of $692,045.00. Following the completion of the sale, the insider now directly owns 22,750 shares of the company’s stock, valued at approximately $516,197.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders purchased a total of 600 shares of company stock valued at $13,500 over the last three months. 1.90% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in ORI. American International Group Inc. boosted its stake in Old Republic International by 0.3% in the 4th quarter. American International Group Inc. now owns 579,839 shares of the insurance provider’s stock worth $11,927,000 after purchasing an additional 1,910 shares during the period. JPMorgan Chase & Co. boosted its stake in Old Republic International by 8.4% in the 1st quarter. JPMorgan Chase & Co. now owns 786,525 shares of the insurance provider’s stock worth $16,454,000 after purchasing an additional 60,722 shares during the period. Tibra Equities Europe Ltd bought a new position in Old Republic International in the 1st quarter worth approximately $686,000. Cerebellum GP LLC boosted its stake in Old Republic International by 120.3% in the 1st quarter. Cerebellum GP LLC now owns 13,178 shares of the insurance provider’s stock worth $276,000 after purchasing an additional 7,197 shares during the period. Finally, Coldstream Capital Management Inc. boosted its stake in Old Republic International by 4.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 44,204 shares of the insurance provider’s stock worth $909,000 after purchasing an additional 1,893 shares during the period. 73.48% of the stock is owned by institutional investors.

Old Republic International Company Profile

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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