Old Republic International (NYSE:ORI) Price Target Raised to $43.00

Old Republic International (NYSE:ORI) had its price objective upped by Piper Sandler from $41.00 to $43.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider’s stock.

Separately, StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $39.64 on Tuesday. The firm has a market cap of $9.84 billion, a PE ratio of 15.07 and a beta of 0.83. Old Republic International has a twelve month low of $28.59 and a twelve month high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The business has a 50-day moving average price of $37.17 and a 200 day moving average price of $36.50.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Sell-side analysts predict that Old Republic International will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s payout ratio is 44.11%.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 9,188 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the transaction, the senior vice president now directly owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,039 shares of company stock valued at $1,580,733 over the last quarter. 1.00% of the stock is currently owned by 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. Janus Henderson Group PLC grew its holdings in Old Republic International by 5.9% in the 3rd quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider’s stock valued at $4,262,000 after buying an additional 6,664 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock valued at $279,000 after acquiring an additional 302 shares during the last quarter. Nisa Investment Advisors LLC increased its position in Old Republic International by 37.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider’s stock worth $2,595,000 after purchasing an additional 19,400 shares during the last quarter. Orca Wealth Management LLC acquired a new stake in Old Republic International during the fourth quarter worth about $5,209,000. Finally, JPMorgan Chase & Co. boosted its holdings in Old Republic International by 5.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider’s stock valued at $30,160,000 after purchasing an additional 42,934 shares during the last quarter. Institutional investors and hedge funds 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.