Old Republic International (NYSE:ORI) Stock Rating Lowered by Raymond James Financial

Old Republic International (NYSE:ORI) was downgraded by equities researchers at Raymond James Financial from a “strong-buy” rating to an “outperform” rating in a report issued on Friday, Marketbeat reports. They presently have a $45.00 target price on the insurance provider’s stock, down from their previous target price of $48.00. Raymond James Financial‘s target price would indicate a potential upside of 19.46% from the company’s current price.

ORI has been the subject of a number of other research reports. Weiss Ratings lowered shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler lowered their price objective on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Friday, July 24th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $43.50.

Old Republic International Price Performance

Shares of NYSE:ORI traded down $0.43 during midday trading on Friday, reaching $37.67. 1,810,373 shares of the company were exchanged, compared to its average volume of 1,635,802. The company has a current ratio of 0.67, a quick ratio of 0.30 and a debt-to-equity ratio of 0.30. The business’s fifty day moving average is $39.89 and its two-hundred day moving average is $40.54. Old Republic International has a one year low of $36.65 and a one year high of $46.76. The stock has a market cap of $9.10 billion, a PE ratio of 8.48 and a beta of 0.56.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, October 22nd. The insurance provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.06). Old Republic International had a return on equity of 12.13% and a net margin of 11.19%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the prior year, the company posted $0.78 EPS. As a group, analysts predict that Old Republic International will post 2.89 earnings per share for the current year.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 4,386 shares of the stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $42.01, for a total transaction of $184,255.86. Following the completion of the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,171,028.75. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Republic International

Institutional investors have recently made changes to their positions in the company. Elevation Wealth Partners LLC lifted its holdings in shares of Old Republic International by 109.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 839 shares of the insurance provider’s stock worth $31,000 after acquiring an additional 439 shares during the last quarter. Latitude Advisors LLC bought a new stake in shares of Old Republic International in the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Old Republic International in the 4th quarter worth about $48,000. Root Financial Partners LLC bought a new stake in shares of Old Republic International in the 3rd quarter worth about $62,000. Finally, Western Wealth Management LLC bought a new stake in shares of Old Republic International in the 1st quarter worth about $90,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Company Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.