Old Republic International (NYSE:ORI) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Old Republic International Corporation (NYSE:ORI) shares passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $39.50 and traded as high as $40.00. Old Republic International shares last traded at $39.9530, with a volume of 2,187,732 shares.

Analyst Upgrades and Downgrades

ORI has been the topic of several research reports. Piper Sandler raised their target price on Old Republic International from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Raymond James Financial lowered shares of Old Republic International from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $48.00 to $45.00 in a research report on Friday, October 23rd. Finally, Weiss Ratings cut shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, September 18th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $43.50.

Old Republic International Stock Performance

The business’s 50-day moving average price is $39.50 and its 200-day moving average price is $40.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.29. The stock has a market cap of $9.58 billion, a P/E ratio of 9.00 and a beta of 0.52.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, October 22nd. The insurance provider reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.06). Old Republic International had a return on equity of 12.13% and a net margin of 11.19%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the prior year, the business posted $0.78 earnings per share. As a group, sell-side analysts expect that Old Republic International Corporation will post 2.78 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were given a $0.3150 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. Old Republic International’s dividend payout ratio is presently 28.38%.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 4,386 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total value of $184,255.86. Following the transaction, the senior vice president owned 27,875 shares of the company’s stock, valued at $1,171,028.75. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Old Republic International

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ORI. Bank of New York Mellon Corp purchased a new position in Old Republic International during the second quarter worth $491,660,000. First Trust Advisors LP raised its stake in shares of Old Republic International by 18.5% in the first quarter. First Trust Advisors LP now owns 2,823,545 shares of the insurance provider’s stock valued at $112,659,000 after acquiring an additional 441,094 shares during the period. Quantinno Capital Management LP lifted its holdings in shares of Old Republic International by 31.4% in the 1st quarter. Quantinno Capital Management LP now owns 1,174,530 shares of the insurance provider’s stock worth $46,864,000 after acquiring an additional 280,858 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Old Republic International in the 3rd quarter worth about $7,898,000. Finally, Arbejdsmarkedets Tillaegspension boosted its stake in shares of Old Republic International by 20.2% during the 1st quarter. Arbejdsmarkedets Tillaegspension now owns 646,342 shares of the insurance provider’s stock worth $25,789,000 after purchasing an additional 108,687 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

About Old Republic International

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.