Old Republic International (NYSE:ORI) Sets New 1-Year High - Still a Buy?

Key Points

• Old Republic International reached a new 52-week high of $41.22, reflecting strong demand for the stock, which last traded at $41.08.
• Analysts currently have a consensus rating of "Strong Buy" for ORI, with price targets ranging from $45.00 to $47.00, indicating positive sentiment in the market.
• The company reported a quarterly earnings per share of $0.83, exceeding estimates, and declared a dividend of $0.29 per share, representing an annual yield of 2.8%.

Old Republic International Corporation (NYSE:ORI - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $41.22 and last traded at $41.08, with a volume of 34271 shares changing hands. The stock had previously closed at $40.96.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ORI. Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and increased their price objective for the company from $43.00 to $47.00 in a report on Monday. Piper Sandler increased their price objective on Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Finally, Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat.com, Old Republic International presently has a consensus rating of "Strong Buy" and a consensus price target of $46.00.

Old Republic International Stock Performance

The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a fifty day simple moving average of $38.44 and a two-hundred day simple moving average of $37.91. The stock has a market capitalization of $10.17 billion, a price-to-earnings ratio of 14.02 and a beta of 0.78.

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

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's dividend payout ratio is 39.73%.

Insider Buying and Selling

In other news, Director Therace Risch purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of $39.90 per share, with a total value of $59,850.00. Following the purchase, the director owned 9,625 shares in the company, valued at $384,037.50. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. 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 the business. Norges Bank bought a new position in Old Republic International in the 2nd quarter valued at about $115,071,000. AQR Capital Management LLC raised its stake in shares of Old Republic International by 55.7% in the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider's stock worth $221,457,000 after purchasing an additional 2,066,965 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Old Republic International by 43.7% in the second quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider's stock valued at $103,877,000 after purchasing an additional 821,975 shares in the last quarter. Nuveen LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $31,866,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of Old Republic International in the second quarter valued at approximately $27,289,000. 70.92% of the stock is owned by institutional investors.

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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