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

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

ORI has been the subject of several other research reports. TheStreet upgraded shares of United States Lime & Minerals from a c+ rating to a b rating in a report on Wednesday, March 20th. Zacks Investment Research upgraded 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.

Shares of NYSE ORI opened at $22.99 on Friday. The business’s 50 day moving average price is $22.66. The firm has a market cap of $7.03 billion, a P/E ratio of 12.36 and a beta of 0.84. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.47 and a quick ratio of 0.47. Old Republic International has a 1 year low of $19.55 and a 1 year high of $23.29.

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

In related news, insider Charles S. Boone sold 30,500 shares of Old Republic International 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 owns 22,750 shares in the company, valued at approximately $516,197.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased a total of 600 shares of company stock valued at $13,500 in the last quarter. 1.90% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the stock. Clarfeld Financial Advisors LLC purchased a new position in Old Republic International in the 4th quarter valued at approximately $33,000. Omnia Family Wealth LLC purchased a new position in Old Republic International in the 4th quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC purchased a new position in Old Republic International in the 1st quarter valued at approximately $43,000. Magnus Financial Group LLC purchased a new position in Old Republic International in the 4th quarter valued at approximately $207,000. Finally, Creative Planning purchased a new position in Old Republic International in the 1st quarter valued at approximately $269,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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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