Old Republic International (NYSE:ORI) Price Target Cut to $46.00 by Analysts at Piper Sandler

Key Points

• Analysts at Piper Sandler have reduced Old Republic International's price target from $47.00 to $46.00, suggesting a potential upside of 12.34% from its previous close.
• The stock has received mixed reviews, with ratings ranging from a "buy" to a "hold," but the consensus rating remains a Strong Buy with a target price of $46.50.
• Old Republic International reported $0.78 earnings per share for the last quarter, exceeding analysts' expectations of $0.73, alongside a revenue of $2.42 billion.

Old Republic International (NYSE:ORI - Get Free Report) had its price target reduced by investment analysts at Piper Sandler from $47.00 to $46.00 in a research report issued to clients and investors on Friday, Marketbeat.com reports. The brokerage currently has an "overweight" rating on the insurance provider's stock. Piper Sandler's price target would suggest a potential upside of 12.34% from the stock's previous close.

ORI has been the subject of several other research reports. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Old Republic International in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus target price of $46.50.

Old Republic International Price Performance

Old Republic International stock traded up $0.22 during midday trading on Friday, reaching $40.95. 194,956 shares of the stock traded hands, compared to its average volume of 1,329,329. The stock's fifty day moving average is $40.98 and its 200-day moving average is $38.61. Old Republic International has a 12 month low of $33.00 and a 12 month high of $44.00. The stock has a market cap of $10.17 billion, a P/E ratio of 14.02 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 posted its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. As a group, equities research analysts anticipate that Old Republic International will post 3.17 EPS for the current year.

Insider Buying and Selling at Old Republic International

In related news, Director Therace Risch bought 1,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $39.90 per share, with a total value of $59,850.00. Following the purchase, the director directly owned 9,625 shares of the company's stock, valued at approximately $384,037.50. This represents a 18.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction, the senior vice president owned 35,755 shares in the company, valued at $1,305,772.60. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Republic International

Large investors have recently bought and sold shares of the business. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Old Republic International during the third quarter worth $72,000. Foster & Motley Inc. raised its position in shares of Old Republic International by 27.9% in the 3rd quarter. Foster & Motley Inc. now owns 51,526 shares of the insurance provider's stock valued at $2,188,000 after buying an additional 11,254 shares in the last quarter. Venturi Wealth Management LLC increased its position in Old Republic International by 8.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 20,286 shares of the insurance provider's stock worth $862,000 after purchasing an additional 1,499 shares in the last quarter. SG Americas Securities LLC grew its holdings in Old Republic International by 84.1% during the 3rd quarter. SG Americas Securities LLC now owns 17,032 shares of the insurance provider's stock worth $723,000 after acquiring an additional 7,778 shares during the last quarter. Finally, HB Wealth Management LLC boosted its stake in shares of Old Republic International by 53.3% in the 3rd quarter. HB Wealth Management LLC now owns 11,406 shares of the insurance provider's stock valued at $484,000 after purchasing an additional 3,964 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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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