Old Republic International (NYSE:ORI) Hits New 12-Month High Following Analyst Upgrade

Key Points

• Old Republic International's shares hit a new 52-week high of $40.32 following an analyst upgrade from Piper Sandler, raising the price target from $41 to $45.
• Despite the recent upgrade, Wall Street Zen downgraded the stock from a "buy" to a "hold" rating, though the overall consensus remains a "Buy" with a target price of $43.50.
• Insider selling has occurred, with notable transactions including SVP Carolyn Monroe selling 6,849 shares, indicating a decrease in ownership by 16.08%.

Shares of Old Republic International Corporation (NYSE:ORI - Get Free Report) reached a new 52-week high on Wednesday after Piper Sandler raised their price target on the stock from $41.00 to $45.00. Piper Sandler currently has an overweight rating on the stock. Old Republic International traded as high as $40.32 and last traded at $40.01, with a volume of 1036940 shares trading hands. The stock had previously closed at $39.97.

Separately, Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Old Republic International currently has a consensus rating of "Buy" and a consensus target price of $43.50.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction 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 completion of the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Institutional Trading of Old Republic International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. HWG Holdings LP acquired a new position in Old Republic International during the first quarter valued at approximately $25,000. 1 North Wealth Services LLC bought a new position in shares of Old Republic International during the first quarter worth $29,000. Quarry LP boosted its position in shares of Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after purchasing an additional 731 shares in the last quarter. Alpine Bank Wealth Management acquired a new position in shares of Old Republic International in the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International in the 1st quarter valued at $34,000. 70.92% of the stock is owned by institutional investors.

Old Republic International Price Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a market cap of $9.94 billion, a price-to-earnings ratio of 13.70 and a beta of 0.78. The company has a 50 day moving average of $37.77 and a 200 day moving average of $37.62.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.18 billion. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

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

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.

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