Old Republic International (NYSE:ORI) Reaches New 12-Month High – Should You Buy?

Old Republic International Corporation (NYSE:ORI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.47 and last traded at $44.2010, with a volume of 1448754 shares changing hands. The stock had previously closed at $43.45.

Analysts Set New Price Targets

Several brokerages recently commented on ORI. Piper Sandler lowered their price target on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Finally, Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy” and a consensus price target of $46.50.

Old Republic International Stock Up 2.6%

The firm has a fifty day moving average price of $41.27 and a 200 day moving average price of $38.98. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 14.91 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.64.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. As a group, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Therace Risch bought 1,000 shares of the stock in a transaction on Monday, November 3rd. The stock was purchased at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the purchase, the director directly owned 10,625 shares in the company, valued at $415,862.50. This trade represents a 10.39% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its stake in shares of Old Republic International by 11.6% during the first quarter. Envestnet Asset Management Inc. now owns 244,834 shares of the insurance provider’s stock worth $9,602,000 after purchasing an additional 25,450 shares in the last quarter. Cerity Partners LLC lifted its position in Old Republic International by 60.6% during the 1st quarter. Cerity Partners LLC now owns 48,512 shares of the insurance provider’s stock worth $1,903,000 after acquiring an additional 18,300 shares in the last quarter. CWM LLC lifted its position in Old Republic International by 226.0% during the 1st quarter. CWM LLC now owns 46,537 shares of the insurance provider’s stock worth $1,825,000 after acquiring an additional 32,264 shares in the last quarter. Jackson Creek Investment Advisors LLC purchased a new position in Old Republic International in the 1st quarter worth approximately $1,148,000. Finally, Impact Partnership Wealth LLC acquired a new stake in Old Republic International in the first quarter valued at approximately $569,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.