Old Republic International (NYSE:ORI) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Old Republic International (NYSE:ORI) from a hold rating to a buy rating in a research report sent to investors on Friday.

Separately, Piper Sandler raised their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the stock an overweight rating in a research note on Monday, April 1st.

Old Republic International Trading Up 0.4 %

Shares of NYSE:ORI opened at $30.13 on Friday. The stock has a market capitalization of $8.30 billion, a price-to-earnings ratio of 11.72 and a beta of 0.81. Old Republic International has a 1-year low of $24.03 and a 1-year high of $31.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.25 and a current ratio of 1.28. The company has a 50 day moving average price of $29.58 and a 200 day moving average price of $28.90.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. On average, research analysts anticipate that Old Republic International will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were paid a $0.265 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 dividend on an annualized basis and a yield of 3.52%. Old Republic International’s dividend payout ratio (DPR) is currently 41.25%.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now owns 35,340 shares of the company’s stock, valued at approximately $979,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the sale, the senior vice president now owns 35,340 shares in the company, valued at approximately $979,271.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara Adachi bought 1,925 shares of the business’s stock in a transaction on Friday, February 16th. The stock was bought at an average price of $28.60 per share, with a total value of $55,055.00. Following the transaction, the director now owns 7,845 shares in the company, valued at $224,367. The disclosure for this purchase can be found here. Company insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Old Republic International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its holdings in shares of Old Republic International by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 436,420 shares of the insurance provider’s stock valued at $12,826,000 after purchasing an additional 49,329 shares in the last quarter. Alaska Permanent Fund Corp raised its holdings in shares of Old Republic International by 9.2% during the 4th quarter. Alaska Permanent Fund Corp now owns 436,716 shares of the insurance provider’s stock valued at $12,839,000 after purchasing an additional 36,754 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Old Republic International by 92.2% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 93,599 shares of the insurance provider’s stock valued at $2,522,000 after purchasing an additional 44,895 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Old Republic International during the 4th quarter valued at $3,270,000. Finally, Etesian Wealth Advisors Inc. raised its holdings in shares of Old Republic International by 1.7% during the 4th quarter. Etesian Wealth Advisors Inc. now owns 49,520 shares of the insurance provider’s stock valued at $1,458,000 after purchasing an additional 808 shares in the last quarter. Hedge funds and other 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.