Old Republic International Co. (NYSE:ORI) Given $25.00 Average Target Price by Analysts
Old Republic International Co. (NYSE:ORI) has earned an average broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a strong buy rating.
Brokerages have set a 1 year consensus target price of $25.00 for the company and are anticipating that the company will post $0.45 EPS for the current quarter, according to Zacks. Zacks has also given Old Republic International an industry rank of 30 out of 256 based on the ratings given to its competitors.
A number of research analysts have recently commented on the company. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research note on Thursday, April 25th. TheStreet upgraded Old Republic International from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th.
Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.05. Old Republic International had a return on equity of 10.66% and a net margin of 11.87%. The company had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the company earned $0.44 EPS. Old Republic International’s revenue was up 2.3% compared to the same quarter last year. As a group, equities analysts forecast that Old Republic International will post 1.85 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.51%. The ex-dividend date was Monday, June 3rd. Old Republic International’s dividend payout ratio is currently 43.01%.
In related news, insider Charles S. Boone sold 30,500 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $22.69, for a total transaction of $692,045.00. Following the completion of the transaction, the insider now directly owns 22,750 shares of the company’s stock, valued at approximately $516,197.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders have purchased 600 shares of company stock valued at $13,044. 1.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in shares of Old Republic International by 40.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,003,301 shares of the insurance provider’s stock valued at $22,454,000 after purchasing an additional 288,045 shares during the period. Vanguard Group Inc lifted its stake in shares of Old Republic International by 3.8% in the 3rd quarter. Vanguard Group Inc now owns 26,280,159 shares of the insurance provider’s stock valued at $588,150,000 after purchasing an additional 958,745 shares during the period. Bank of Montreal Can lifted its stake in shares of Old Republic International by 107.8% in the 4th quarter. Bank of Montreal Can now owns 173,901 shares of the insurance provider’s stock valued at $3,578,000 after purchasing an additional 90,223 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Old Republic International by 16.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,452 shares of the insurance provider’s stock valued at $709,000 after purchasing an additional 4,892 shares during the period. Finally, Royal London Asset Management Ltd. lifted its stake in shares of Old Republic International by 9.2% in the 4th quarter. Royal London Asset Management Ltd. now owns 104,602 shares of the insurance provider’s stock valued at $2,146,000 after purchasing an additional 8,810 shares during the period. 73.59% 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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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