Old Republic International (NYSE:ORI) Sets New 1-Year High - Here's Why

Old Republic International Co. (NYSE:ORI - Get Free Report) shares hit a new 52-week high during trading on Wednesday . The company traded as high as $37.94 and last traded at $37.94, with a volume of 1101 shares changing hands. The stock had previously closed at $35.77.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler lifted their price objective on Old Republic International from $36.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday.

Old Republic International Price Performance

The business has a fifty day simple moving average of $35.36 and a 200-day simple moving average of $32.69. The stock has a market capitalization of $9.73 billion, a P/E ratio of 13.92 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.15. The business had revenue of $1.87 billion during the quarter, compared to analysts' expectations of $1.92 billion. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. During the same period last year, the company posted $0.62 earnings per share. Sell-side analysts expect that Old Republic International Co. will post 2.83 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently declared an annual dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were issued a $1.06 dividend. The ex-dividend date was Friday, September 6th. This represents a yield of 3.05%. Old Republic International's payout ratio is currently 41.25%.

Institutional Trading of Old Republic International

A number of hedge funds and other institutional investors have recently bought and sold shares of ORI. Nordea Investment Management AB lifted its holdings in shares of Old Republic International by 26.4% in the first quarter. Nordea Investment Management AB now owns 551,744 shares of the insurance provider's stock valued at $17,032,000 after purchasing an additional 115,324 shares in the last quarter. First Eagle Investment Management LLC boosted its holdings in Old Republic International by 9.6% during the 1st quarter. First Eagle Investment Management LLC now owns 419,685 shares of the insurance provider's stock worth $12,893,000 after acquiring an additional 36,700 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Old Republic International by 4.7% in the 1st quarter. Retirement Systems of Alabama now owns 655,137 shares of the insurance provider's stock worth $20,126,000 after acquiring an additional 29,159 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Old Republic International by 309.6% in the second quarter. SG Americas Securities LLC now owns 21,695 shares of the insurance provider's stock valued at $670,000 after purchasing an additional 16,399 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Old Republic International during the second quarter valued at about $1,945,000. 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.