Old Republic International (NYSE:ORI) Stock Price Expected to Rise, Piper Sandler Analyst Says

Key Points

• Piper Sandler has raised Old Republic International's price target from $41.00 to $45.00, indicating a potential upside of 12.57% based on the company's recent closing price.
• Despite this upgrade, Wall Street Zen downgraded Old Republic International from a "buy" to a "hold" rating, reflecting mixed sentiments among analysts.
• Old Republic International reported better-than-expected earnings with an EPS of $0.83 for the last quarter, exceeding analyst estimates of $0.79.

Old Republic International (NYSE:ORI - Free Report) had its target price upped by Piper Sandler from $41.00 to $45.00 in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have an overweight rating on the insurance provider's stock.

Separately, Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $43.50.

Old Republic International Stock Down 1.7%

Shares of NYSE ORI traded down $0.68 during mid-day trading on Tuesday, hitting $40.41. 1,173,846 shares of the stock traded hands, compared to its average volume of 1,152,149. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. Old Republic International has a 52 week low of $33.00 and a 52 week high of $41.15. The company has a market cap of $10.04 billion, a price-to-earnings ratio of 13.84 and a beta of 0.78. The stock has a fifty day moving average price of $37.94 and a 200-day moving average price of $37.70.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. Research analysts anticipate that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is 39.73%.

Insider Transactions at Old Republic International

In related news, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average price of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares of the company's stock, valued at $384,037.50. This represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the transaction, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Old Republic International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC increased its stake in Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock worth $23,143,000 after acquiring an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Old Republic International by 304.7% in the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider's stock worth $607,000 after acquiring an additional 11,534 shares during the last quarter. GAMMA Investing LLC increased its stake in Old Republic International by 4,738.8% in the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock worth $8,500,000 after acquiring an additional 212,251 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Old Republic International by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after acquiring an additional 100,264 shares during the last quarter. Finally, Merit Financial Group LLC increased its stake in Old Republic International by 336.1% in the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock worth $980,000 after acquiring an additional 19,254 shares during the last quarter. Institutional investors 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.