Old Republic International (NYSE:ORI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Old Republic International (NYSE:ORI - Free Report) from a hold rating to a buy rating in a report issued on Friday morning.

Other equities research analysts also recently issued reports about the company. Raymond James Financial set a $42.00 price target on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Piper Sandler set a $42.00 price objective on Old Republic International in a research note on Friday, April 25th.

Old Republic International Stock Performance

Shares of NYSE ORI traded up $0.32 during trading on Friday, reaching $38.44. The stock had a trading volume of 1,525,734 shares, compared to its average volume of 1,206,244. Old Republic International has a one year low of $29.83 and a one year high of $39.84. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.24 and a current ratio of 0.24. The stock has a market cap of $9.50 billion, a PE ratio of 15.63 and a beta of 0.74. The firm's 50 day moving average price is $37.66 and its two-hundred day moving average price is $37.04.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts forecast that Old Republic International will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.02%. Old Republic International's payout ratio is currently 47.15%.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 10,601 shares of the company's stock in a transaction 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 $1,336,521.90. This represents a 22.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Hamlin Capital Management LLC grew its stake in shares of Old Republic International by 1.6% in the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock worth $203,603,000 after purchasing an additional 79,796 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock worth $145,481,000 after purchasing an additional 1,827,180 shares in the last quarter. Northern Trust Corp grew its stake in shares of Old Republic International by 11.8% in the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock worth $139,306,000 after purchasing an additional 375,916 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after purchasing an additional 100,264 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Old Republic International in the fourth quarter worth $105,581,000. 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.