StockNews.com Upgrades Old Republic International (NYSE:ORI) to “Buy”

Old Republic International (NYSE:ORI) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Separately, Piper Sandler raised their target price on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Monday, April 1st.

Old Republic International Trading Up 0.4 %

NYSE:ORI opened at $30.13 on Friday. The business’s 50-day moving average is $29.58 and its two-hundred day moving average is $28.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. Old Republic International has a 12 month low of $24.03 and a 12 month high of $31.22. The firm has a market capitalization of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. The company had revenue of $1.94 billion during the quarter, compared to analysts’ expectations of $1.95 billion. Research analysts predict that Old Republic International will post 2.7 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the sale, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Barbara Adachi purchased 1,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the purchase, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 6,528 shares of Old Republic International stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now owns 35,340 shares of the company’s stock, valued at $979,271.40. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Old Republic International

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Old Republic International in the fourth quarter worth about $89,446,000. Northern Trust Corp boosted its stake in Old Republic International by 13.1% in the third quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock valued at $66,290,000 after acquiring an additional 284,491 shares during the period. Invesco Ltd. boosted its stake in Old Republic International by 55.2% in the third quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock valued at $60,966,000 after acquiring an additional 804,803 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Old Republic International by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,817,104 shares of the insurance provider’s stock valued at $53,423,000 after acquiring an additional 32,917 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Old Republic International by 3.3% in the third quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock valued at $48,827,000 after acquiring an additional 58,008 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.