Old Republic International (NYSE:ORI) Price Target Raised to $43.00

Old Republic International (NYSE:ORI) had its price objective lifted by equities research analysts at Piper Sandler from $41.00 to $43.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective points to a potential upside of 9.54% from the stock’s current price.

Separately, StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Old Republic International Price Performance

ORI opened at $39.26 on Tuesday. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.74 billion, a price-to-earnings ratio of 14.93 and a beta of 0.83. The stock’s 50-day moving average price is $37.10 and its 200 day moving average price is $36.47. Old Republic International has a 12-month low of $28.59 and a 12-month high of $39.55.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. As a group, sell-side analysts expect that Old Republic International will post 3.17 earnings per share for the current year.

Insider Activity

In other Old Republic International news, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. The trade was a 21.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares of the company’s stock, valued at $1,699,294. This represents a 37.10 % 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. 1.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Old Republic International

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Old Republic International during the 4th quarter worth $105,581,000. Raymond James Financial Inc. purchased a new position in Old Republic International during the fourth quarter worth about $67,054,000. Invesco Ltd. boosted its stake 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 last quarter. Northern Trust Corp grew its holdings in Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider’s stock valued at $114,940,000 after buying an additional 400,384 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Old Republic International by 93.8% during the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider’s stock valued at $29,802,000 after acquiring an additional 398,531 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.