Old Republic International (NYSE:ORI) Hits New 1-Year High - What's Next?

Key Points

• Old Republic International's share price reached a new **52-week high** of **$40.21**, marking a significant increase from the previous close of **$39.65**.
• Analyst ratings saw Piper Sandler reduce the target price from **$42.00** to **$41.00**, while Wall Street Zen downgraded the stock from "buy" to "hold," leading to an average target price of **$41.50**.
• The company recently announced a **quarterly dividend** of **$0.29 per share**, with a dividend yield of **2.9%**, reflecting a payout ratio of **39.73%**.

Old Republic International Corporation (NYSE:ORI - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.21 and last traded at $40.09, with a volume of 1257175 shares. The stock had previously closed at $39.65.

Analyst Ratings Changes

Several research analysts have issued reports on ORI shares. Piper Sandler dropped their target price on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $41.50.

Old Republic International Stock Up 1.1%

The company has a market capitalization of $9.96 billion, a PE ratio of 13.73 and a beta of 0.74. The business's 50-day simple moving average is $37.58 and its 200-day simple moving average is $37.51. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business's revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company 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 dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Insider Buying and Selling

In other news, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president owned 54,661 shares of the company's stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Republic International

A number of institutional investors have recently added to or reduced their stakes in ORI. Norges Bank acquired a new stake in Old Republic International in the 2nd quarter valued at $115,071,000. AQR Capital Management LLC grew its stake in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider's stock valued at $221,457,000 after acquiring an additional 2,066,965 shares during the period. LSV Asset Management grew its stake in Old Republic International by 43.7% in the 2nd quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider's stock valued at $103,877,000 after acquiring an additional 821,975 shares during the period. Nuveen LLC acquired a new stake in Old Republic International in the 1st quarter valued at $31,866,000. Finally, Qube Research & Technologies Ltd acquired a new stake in Old Republic International in the 2nd quarter valued at $27,289,000. Institutional investors and hedge funds own 70.92% 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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.

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