Old Republic International (NYSE:ORI) Hits New 52-Week High - Here's Why

Key Points

• Old Republic International's stock reached a new 52-week high of $43.74, reflecting a notable increase from its previous close at $43.35.
• Analysts have differing views, with Raymond James Financial upgrading the stock to a "strong-buy" rating and raising the price target from $43.00 to $47.00.
• In its latest earnings report, Old Republic International exceeded expectations with $0.83 earnings per share for the quarter, surpassing the consensus estimate of $0.79.

Old Republic International Corporation (NYSE:ORI - Get Free Report)'s stock price reached a new 52-week high on Monday . The stock traded as high as $43.74 and last traded at $43.67, with a volume of 27637 shares changing hands. The stock had previously closed at $43.35.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ORI. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and lifted their target price for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Weiss Ratings reissued a "buy (a-)" rating on shares of Old Republic International in a research report on Saturday, September 27th. Finally, Piper Sandler boosted their target price on Old Republic International from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $47.00.

Old Republic International Trading Up 1.1%

The stock has a fifty day simple moving average of $39.45 and a 200 day simple moving average of $38.22. The firm has a market capitalization of $10.89 billion, a P/E ratio of 15.02 and a beta of 0.76. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI - Get Free Report) last released its 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. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, September 5th. Old Republic International's payout ratio is currently 39.73%.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. The trade was a 8.07% 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

Several hedge funds and other institutional investors have recently made changes to their positions in ORI. HWG Holdings LP bought a new position in Old Republic International during the 1st quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new stake in shares of Old Republic International in the first quarter worth approximately $29,000. Quarry LP lifted its stake in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after acquiring an additional 731 shares during the last quarter. Alpine Bank Wealth Management purchased a new position in Old Republic International during the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new position in Old Republic International in the 1st quarter valued at $34,000. Hedge funds and other institutional investors 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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