Old Republic International (NYSE:ORI) Hits New 52-Week High – Here’s Why

Old Republic International Corporation (NYSE:ORI) reached a new 52-week high on Tuesday . The stock traded as high as $46.63 and last traded at $46.3810, with a volume of 316890 shares changing hands. The stock had previously closed at $46.19.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of Old Republic International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a research note on Thursday, December 18th. Finally, Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat.com, Old Republic International presently has an average rating of “Strong Buy” and an average target price of $49.00.

Old Republic International Price Performance

The stock’s 50 day moving average is $43.31 and its two-hundred day moving average is $40.46. The stock has a market capitalization of $11.54 billion, a PE ratio of 15.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.28 billion. As a group, sell-side analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a special dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, January 2nd will be paid a dividend of $2.50 per share. The ex-dividend date is Friday, January 2nd. Old Republic International’s payout ratio is presently 38.80%.

Insiders Place Their Bets

In other Old Republic International news, Director Therace Risch bought 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $39.14 per share, with a total value of $39,140.00. Following the transaction, the director owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the transaction, the senior vice president owned 29,075 shares in the company, valued at $1,295,000.50. This represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB boosted its stake in Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after purchasing an additional 222 shares during the period. SBI Securities Co. Ltd. boosted its stake in shares of Old Republic International by 29.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after buying an additional 274 shares during the period. Burney Co. grew its holdings in shares of Old Republic International by 0.3% during the second quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock worth $3,456,000 after buying an additional 276 shares during the last quarter. Clearstead Trust LLC increased its position in Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the period. Finally, Centennial Wealth Advisory LLC raised its stake in Old Republic International by 2.3% during the 3rd quarter. Centennial Wealth Advisory LLC now owns 13,099 shares of the insurance provider’s stock valued at $556,000 after acquiring an additional 289 shares during the last quarter. Institutional investors and hedge funds own 70.92% 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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.