Old Republic International (NYSE:ORI) Hits New 1-Year High – What’s Next?

Old Republic International Corporation (NYSE:ORI) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.21 and last traded at $40.09, with a volume of 1257175 shares. The stock had previously closed at $39.65.

Wall Street Analyst Weigh In

ORI has been the topic of several recent research reports. Piper Sandler lowered their target price on shares of Old Republic International from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Friday, July 25th. Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Old Republic International currently has a consensus rating of “Buy” and an average price target of $41.50.

Old Republic International Stock Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a fifty day moving average price of $37.58 and a 200 day moving average price of $37.51. The firm has a market cap of $9.96 billion, a PE ratio of 13.73 and a beta of 0.74.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International’s payout ratio is currently 39.73%.

Insider Buying and Selling at Old Republic International

In related news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares in the company, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the business’s stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional Trading of Old Republic International

Institutional investors and hedge funds have recently bought and sold shares of the stock. HWG Holdings LP purchased a new stake in Old Republic International in the 1st quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new stake in Old Republic International in the 1st quarter valued at about $29,000. Quarry LP raised its holdings in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after buying an additional 731 shares during the period. Alpine Bank Wealth Management purchased a new stake in Old Republic International in the 1st quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Old Republic International in the 1st quarter valued at about $35,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Company Profile

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.