Old Republic International (NYSE:ORI) Price Target Lowered to $41.00 at Piper Sandler

Key Points

• Old Republic International's price target has been reduced from $42.00 to $41.00 by Piper Sandler, maintaining an "overweight" rating on the stock.
• The company's stock currently trades at $35.81, reflecting a potential upside of approximately 14.49% based on the new target price.
• Old Republic's quarterly earnings topped analyst expectations, reporting $0.83 EPS and $2.21 billion in revenue for the quarter.
• Insider trading activity included the sale of 10,601 shares by SVP Carolyn Monroe, representing a 22.87% decrease in her position in the company.

Old Republic International (NYSE:ORI - Get Free Report) had its target price dropped by equities research analysts at Piper Sandler from $42.00 to $41.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the insurance provider's stock. Piper Sandler's price target would suggest a potential upside of 13.09% from the company's current price.

Other research analysts have also recently issued reports about the company. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th.

Old Republic International Stock Performance

Old Republic International stock traded up $0.30 during midday trading on Friday, reaching $36.25. 493,219 shares of the company traded hands, compared to its average volume of 1,321,697. Old Republic International has a 12 month low of $33.00 and a 12 month high of $39.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.24. The business has a 50 day moving average of $37.32 and a two-hundred day moving average of $37.24. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 12.43 and a beta of 0.73.

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 firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. The firm's revenue was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Old Republic International will post 3.17 earnings per share for the current year.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 10,601 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the transaction, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,336,521.90. The trade was a 22.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Republic International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. HWG Holdings LP bought a new position in shares of Old Republic International in the first quarter worth approximately $25,000. 1 North Wealth Services LLC purchased a new position in shares of Old Republic International during the 1st quarter valued at $29,000. Quarry LP boosted its holdings in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after buying an additional 731 shares during the period. Alpine Bank Wealth Management purchased a new stake in Old Republic International in the 1st quarter worth $31,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Old Republic International during the first quarter valued at about $35,000. 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.