Piper Sandler Cuts Old Republic International (NYSE:ORI) Price Target to $46.00

Old Republic International (NYSE:ORI) had its target price cut by Piper Sandler from $47.00 to $46.00 in a research report sent to investors on Friday morning, Marketbeat Ratings reports. They currently have an overweight rating on the insurance provider’s stock.

A number of other research analysts have also recently issued reports on ORI. Wall Street Zen cut Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $46.50.

Old Republic International Stock Down 0.6%

NYSE:ORI opened at $40.51 on Friday. Old Republic International has a 1 year low of $33.00 and a 1 year high of $44.00. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The stock has a market cap of $10.06 billion, a price-to-earnings ratio of 13.55 and a beta of 0.76. The stock has a 50-day moving average price of $41.01 and a two-hundred day moving average price of $38.68.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, October 23rd. The insurance provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.38. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. As a group, equities analysts expect that Old Republic International will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is presently 38.80%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares of the company’s stock, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Therace Risch purchased 1,500 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. The trade was a 18.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Martingale Asset Management L P boosted its position in Old Republic International by 3.4% during the first quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 269 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in Old Republic International by 29.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 274 shares during the last quarter. Burney Co. boosted its position in Old Republic International by 0.3% during the second quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock valued at $3,456,000 after purchasing an additional 276 shares during the last quarter. Centennial Wealth Advisory LLC boosted its position in Old Republic International by 2.3% during the third quarter. Centennial Wealth Advisory LLC now owns 13,099 shares of the insurance provider’s stock valued at $556,000 after purchasing an additional 289 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its stake in Old Republic International by 37.1% in the third quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock valued at $47,000 after buying an additional 298 shares during the period. 70.92% of the stock is 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 Republic Financial Indemnity Group Run-off Business.