Old Republic International (NYSE:ORI) Reaches New 1-Year High – Here’s What Happened

Old Republic International Co. (NYSE:ORI) reached a new 52-week high during trading on Wednesday . The company traded as high as $37.94 and last traded at $37.94, with a volume of 1101 shares changing hands. The stock had previously closed at $35.77.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler raised their target price on Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday.

Old Republic International Trading Down 0.1 %

The company has a market capitalization of $9.23 billion, a P/E ratio of 15.03 and a beta of 0.84. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50-day moving average price is $35.32 and its two-hundred day moving average price is $32.67.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. The firm had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, analysts forecast that Old Republic International Co. will post 2.83 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared an annual dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were paid a $1.06 dividend. This represents a yield of 3.05%. The ex-dividend date was Friday, September 6th. Old Republic International’s payout ratio is currently 44.54%.

Hedge Funds Weigh In On Old Republic International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORI. Versant Capital Management Inc boosted its position in Old Republic International by 555.6% during the 2nd quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 750 shares during the last quarter. Mather Group LLC. lifted its position in shares of Old Republic International by 201.0% in the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 597 shares in the last quarter. Innealta Capital LLC acquired a new position in Old Republic International during the second quarter worth $30,000. V Square Quantitative Management LLC acquired a new stake in Old Republic International in the 3rd quarter valued at $31,000. Finally, Covestor Ltd lifted its position in Old Republic International by 23.0% during the 1st quarter. Covestor Ltd now owns 1,937 shares of the insurance provider’s stock worth $59,000 after buying an additional 362 shares in the last quarter. 70.92% of the stock is 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.