Piper Sandler Raises Old Republic International (NYSE:ORI) Price Target to $38.00

Old Republic International (NYSE:ORI - Free Report) had its target price raised by Piper Sandler from $32.00 to $38.00 in a research report released on Monday morning, Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.

Separately, StockNews.com lowered Old Republic International from a buy rating to a hold rating in a report on Friday, January 26th.

Old Republic International Stock Performance

NYSE ORI traded up $0.08 on Monday, reaching $30.80. The stock had a trading volume of 1,396,527 shares, compared to its average volume of 1,676,762. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a fifty day moving average of $28.95 and a two-hundred day moving average of $28.55. Old Republic International has a 1-year low of $24.03 and a 1-year high of $30.90. The company has a market cap of $8.57 billion, a P/E ratio of 14.67 and a beta of 0.81.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing analysts' consensus estimates of $0.72 by ($0.03). Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. The firm had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. On average, equities research analysts anticipate that Old Republic International will post 2.7 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were given a dividend of $0.265 per share. This is an increase from Old Republic International's previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International's dividend payout ratio is currently 50.48%.

Insider Buying and Selling

In other Old Republic International news, Director Barbara Adachi acquired 1,925 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the transaction, the director now directly owns 7,845 shares in the company, valued at $224,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Old Republic International news, Director Barbara Adachi acquired 1,925 shares of the company's stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the transaction, the director now directly owns 7,845 shares in the company, valued at $224,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now owns 35,340 shares of the company's stock, valued at $979,271.40. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Old Republic International

Large investors have recently bought and sold shares of the company. Allworth Financial LP raised its position in Old Republic International by 1,069.4% in the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider's stock valued at $27,000 after purchasing an additional 909 shares during the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at about $29,000. Farther Finance Advisors LLC increased its stake in shares of Old Republic International by 167.1% in the second quarter. Farther Finance Advisors LLC now owns 1,154 shares of the insurance provider's stock valued at $29,000 after buying an additional 722 shares during the period. Naples Money Management LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at about $34,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at about $34,000. 70.92% of the stock is currently owned by institutional investors.

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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.