Old Republic International (NYSE:ORI) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Old Republic International (NYSE:ORI) from a hold rating to a buy rating in a research report released on Thursday morning.

ORI has been the subject of several other research reports. Piper Sandler cut their price target on Old Republic International from $31.00 to $30.00 and set a neutral rating for the company in a research note on Friday, October 27th. Raymond James lifted their price objective on Old Republic International from $29.00 to $30.00 and gave the stock an outperform rating in a report on Monday, October 30th.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $28.34 on Thursday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. Old Republic International has a twelve month low of $23.30 and a twelve month high of $29.89. The business has a 50-day moving average price of $27.32 and a 200 day moving average price of $26.42. The firm has a market cap of $7.95 billion, a PE ratio of 9.03 and a beta of 0.79.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.09. Old Republic International had a return on equity of 12.98% and a net margin of 12.01%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. Sell-side analysts predict that Old Republic International will post 2.76 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.245 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.24. This represents a $0.98 annualized dividend and a dividend yield of 3.46%. The ex-dividend date was Friday, September 1st. Old Republic International’s payout ratio is currently 31.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ORI. Commonwealth Equity Services LLC lifted its holdings in Old Republic International by 3.1% in the first quarter. Commonwealth Equity Services LLC now owns 154,054 shares of the insurance provider’s stock valued at $3,846,000 after acquiring an additional 4,695 shares during the last quarter. Resource Consulting Group Inc. purchased a new stake in Old Republic International in the second quarter valued at approximately $371,000. First Hawaiian Bank raised its position in Old Republic International by 4.5% in the second quarter. First Hawaiian Bank now owns 15,417 shares of the insurance provider’s stock valued at $388,000 after purchasing an additional 657 shares during the period. Brandes Investment Partners LP raised its position in Old Republic International by 17.4% in the first quarter. Brandes Investment Partners LP now owns 1,797,271 shares of the insurance provider’s stock valued at $44,878,000 after purchasing an additional 266,491 shares during the period. Finally, Illinois Municipal Retirement Fund raised its position in Old Republic International by 40.8% in the first quarter. Illinois Municipal Retirement Fund now owns 51,746 shares of the insurance provider’s stock valued at $1,292,000 after purchasing an additional 14,997 shares during the period. 70.61% of the stock is currently 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 the Republic Financial Indemnity Group Run-off Business.