Old Republic International (NYSE:ORI - Free Report) had its target price lifted by Piper Sandler from $41.00 to $43.00 in a report issued on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the insurance provider's stock.
Separately, StockNews.com lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.
Check Out Our Latest Report on Old Republic International
Old Republic International Stock Down 1.1 %
ORI stock traded down $0.46 during trading on Tuesday, hitting $39.33. 1,845,093 shares of the company's stock traded hands, compared to its average volume of 1,279,911. The business has a fifty day simple moving average of $37.25 and a two-hundred day simple moving average of $36.53. 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 firm has a market capitalization of $9.76 billion, a P/E ratio of 14.96 and a beta of 0.83. Old Republic International has a 1 year low of $28.59 and a 1 year high of $39.84.
Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (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 anticipate that Old Republic International will post 3.17 EPS for the current year.
Old Republic International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is currently 44.11%.
Insider Activity at Old Republic International
In other news, SVP Carolyn Monroe sold 9,188 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total transaction of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares in the company, valued at $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of Old Republic International stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares of the company's stock, valued at $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 in the last ninety days. Corporate insiders own 1.00% of the company's stock.
Hedge Funds Weigh In On Old Republic International
Hedge funds have recently made changes to their positions in the company. Northern Trust Corp grew its stake in Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after purchasing an additional 400,384 shares during the last quarter. Norges Bank purchased a new stake in Old Republic International in the fourth quarter valued at approximately $105,581,000. Invesco Ltd. increased its holdings in Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after buying an additional 490,788 shares during the period. AQR Capital Management LLC raised its position in Old Republic International by 2.7% during the 4th quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after buying an additional 49,160 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Old Republic International during the 4th quarter worth approximately $67,054,000. 70.92% of the stock is owned by institutional investors and hedge funds.
About Old Republic International
(
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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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