Old Republic International (NYSE:ORI) Sets New 52-Week High After Analyst Upgrade


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Old Republic International Co. (NYSE:ORI) shares reached a new 52-week high on Monday after Raymond James raised their price target on the stock from $25.00 to $28.00. Raymond James currently has a strong-buy rating on the stock. Old Republic International traded as high as $24.92 and last traded at $24.89, with a volume of 3969 shares. The stock had previously closed at $24.62.

Separately, Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Wednesday, April 28th.

In other Old Republic International news, Director Michael Denard Kennedy acquired 1,352 shares of the firm’s stock in a transaction that occurred on Monday, February 22nd. The shares were purchased at an average cost of $19.94 per share, for a total transaction of $26,958.88. Following the completion of the acquisition, the director now owns 2,846 shares of the company’s stock, valued at approximately $56,749.24. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen J. Oberst sold 14,000 shares of the stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $19.21, for a total value of $268,940.00. Following the completion of the transaction, the executive vice president now owns 20,771 shares of the company’s stock, valued at $399,010.91. The disclosure for this sale can be found here. In the last three months, insiders purchased 2,102 shares of company stock valued at $43,026 and sold 163,000 shares valued at $3,461,110. Corporate insiders own 1.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORI. RWM Asset Management LLC purchased a new stake in Old Republic International in the 4th quarter valued at about $25,000. GPS Wealth Strategies Group LLC acquired a new position in shares of Old Republic International in the 1st quarter worth approximately $30,000. Eudaimonia Partners LLC boosted its position in shares of Old Republic International by 37.6% during the 3rd quarter. Eudaimonia Partners LLC now owns 2,098 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 573 shares during the period. JJJ Advisors Inc. boosted its position in shares of Old Republic International by 109.1% during the 4th quarter. JJJ Advisors Inc. now owns 1,857 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 969 shares during the period. Finally, Enterprise Trust & Investment Co acquired a new stake in Old Republic International in the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 72.58% of the company’s stock.

The business has a 50 day simple moving average of $23.07 and a 200 day simple moving average of $19.82. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 23.94 and a beta of 0.76. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.51 and a quick ratio of 0.51.

Old Republic International (NYSE:ORI) last posted its earnings results on Wednesday, April 21st. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.24. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $1.72 billion. Old Republic International had a return on equity of 10.24% and a net margin of 4.85%. Old Republic International’s revenue was up 208.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 EPS. On average, equities research analysts predict that Old Republic International Co. will post 1.9 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Stockholders of record on Tuesday, March 9th were paid a $0.22 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, March 8th. This represents a $0.88 annualized dividend and a dividend yield of 3.43%. Old Republic International’s dividend payout ratio (DPR) is presently 47.83%.

About Old Republic International (NYSE:ORI)

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, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

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