Old Republic International Corporation (ORI) Lowered to “Sell” at Zacks Investment Research

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 Tuesday.

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

Old Republic International Corporation (NYSE:ORI) opened at 19.77 on Tuesday. Old Republic International Corporation has a 1-year low of $16.51 and a 1-year high of $21.19. The firm has a market capitalization of $5.16 billion, a P/E ratio of 12.46 and a beta of 1.30. The stock’s 50 day moving average is $19.42 and its 200-day moving average is $19.67.

Old Republic International Corporation (NYSE:ORI) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.46 billion. Old Republic International Corporation had a net margin of 7.64% and a return on equity of 9.41%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.35 earnings per share. Analysts forecast that Old Republic International Corporation will post $1.43 EPS for the current year.

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Several hedge funds have recently added to or reduced their stakes in ORI. Vanguard Group Inc. lifted its position in shares of Old Republic International Corporation by 5.3% during the first quarter. Vanguard Group Inc. now owns 20,860,548 shares of the insurance provider’s stock valued at $427,223,000 after buying an additional 1,052,647 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Old Republic International Corporation by 13.6% during the second quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance provider’s stock valued at $133,300,000 after buying an additional 815,600 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its position in shares of Old Republic International Corporation by 1,835.8% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 696,900 shares of the insurance provider’s stock valued at $14,273,000 after buying an additional 660,900 shares during the last quarter. Koch Industries Inc. acquired a new position in shares of Old Republic International Corporation during the second quarter valued at about $385,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Old Republic International Corporation during the second quarter valued at about $7,344,000. 71.20% of the stock is owned by institutional investors and hedge funds.

About Old Republic International Corporation

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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