Old Republic International (NYSE:ORI) Upgraded to “Overweight” by Piper Sandler

Old Republic International (NYSE:ORIGet Free Report) was upgraded by Piper Sandler from a “neutral” rating to an “overweight” rating in a note issued to investors on Monday, Marketbeat Ratings reports. The brokerage presently has a $32.00 price objective on the insurance provider’s stock. Piper Sandler’s target price would suggest a potential upside of 14.82% from the stock’s previous close.

A number of other equities analysts have also recently commented on ORI. Raymond James lifted their target price on Old Republic International from $29.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, October 30th. StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Check Out Our Latest Analysis on ORI

Old Republic International Price Performance

ORI stock opened at $27.87 on Monday. Old Republic International has a 52 week low of $23.31 and a 52 week high of $30.60. The firm has a market capitalization of $7.81 billion, a P/E ratio of 13.27 and a beta of 0.81. The company has a fifty day simple moving average of $29.05 and a two-hundred day simple moving average of $28.07. The company has a quick ratio of 0.60, a current ratio of 1.26 and a debt-to-equity ratio of 0.25.

Old Republic International (NYSE:ORIGet Free Report) last announced its earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. Analysts anticipate that Old Republic International will post 2.7 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the sale, the senior vice president now directly owns 35,340 shares of the company’s stock, valued at $979,271.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Institutional Trading of Old Republic International

A number of hedge funds have recently added to or reduced their stakes in ORI. Avantax Planning Partners Inc. lifted its position in shares of Old Republic International by 5.0% during the 3rd quarter. Avantax Planning Partners Inc. now owns 9,688 shares of the insurance provider’s stock valued at $261,000 after buying an additional 463 shares in the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Old Republic International by 5.8% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 8,424 shares of the insurance provider’s stock valued at $248,000 after purchasing an additional 465 shares during the period. MBM Wealth Consultants LLC increased its stake in shares of Old Republic International by 4.8% during the third quarter. MBM Wealth Consultants LLC now owns 10,280 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 467 shares in the last quarter. Mutual Advisors LLC increased its stake in shares of Old Republic International by 4.2% during the second quarter. Mutual Advisors LLC now owns 11,546 shares of the insurance provider’s stock worth $258,000 after purchasing an additional 467 shares in the last quarter. Finally, Buckingham Strategic Wealth LLC raised its position in shares of Old Republic International by 3.4% during the 2nd quarter. Buckingham Strategic Wealth LLC now owns 14,434 shares of the insurance provider’s stock worth $363,000 after purchasing an additional 469 shares during the last quarter. 70.61% of the stock is owned by hedge funds and other institutional investors.

About Old Republic International

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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.

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