Old Republic International Co. (NYSE:ORI) Given Consensus Recommendation of “Strong Buy” by Brokerages
Old Republic International Co. (NYSE:ORI) has been assigned a consensus broker rating score of 1.00 (Strong Buy) from the one brokers that cover the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokers have set a twelve-month consensus target price of $25.00 for the company and are expecting that the company will post $0.45 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Old Republic International an industry rank of 86 out of 256 based on the ratings given to related companies.
ORI has been the topic of a number of research reports. TheStreet upgraded shares of United States Lime & Minerals from a “c+” rating to a “b” rating in a research report on Wednesday, March 20th. JMP Securities lowered shares of Old Republic International from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Zacks Investment Research upgraded shares of FirstService from a “strong sell” rating to a “hold” rating and set a $110.00 target price on the stock in a research report on Tuesday, June 25th.
Old Republic International (NYSE:ORI) last announced its 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. Old Republic International had a net margin of 11.87% and a return on equity of 10.66%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the business earned $0.44 earnings per share. Old Republic International’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Old Republic International will post 1.85 EPS for the current 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 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 Securities & Exchange Commission, which is available at this link. Insiders have bought 600 shares of company stock worth $13,500 over the last quarter. 1.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ORI. Norges Bank acquired a new stake in Old Republic International in the fourth quarter worth $55,180,000. APG Asset Management N.V. raised its holdings in Old Republic International by 154.1% in the fourth quarter. APG Asset Management N.V. now owns 4,106,000 shares of the insurance provider’s stock worth $73,884,000 after purchasing an additional 2,489,900 shares during the period. Rothschild & Co. Asset Management US Inc. acquired a new stake in Old Republic International in the first quarter worth $27,593,000. BlackRock Inc. raised its holdings in Old Republic International by 3.1% in the first quarter. BlackRock Inc. now owns 32,854,067 shares of the insurance provider’s stock worth $687,308,000 after purchasing an additional 998,205 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Old Republic International by 55.1% in the first quarter. Wells Fargo & Company MN now owns 2,077,261 shares of the insurance provider’s stock worth $43,457,000 after purchasing an additional 737,560 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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