Old Republic International (NYSE:ORI) Hits New 12-Month High at $30.80

Old Republic International Co. (NYSE:ORI)’s share price hit a new 52-week high on Thursday . The company traded as high as $30.80 and last traded at $30.76, with a volume of 111726 shares trading hands. The stock had previously closed at $30.55.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ORI. Piper Sandler raised shares of Old Republic International from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a report on Monday, February 12th. StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Old Republic International Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. The company has a market capitalization of $8.58 billion, a price-to-earnings ratio of 14.55 and a beta of 0.81. The business has a 50 day simple moving average of $28.91 and a 200 day simple moving average of $28.47.

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

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s dividend payout ratio (DPR) is currently 50.48%.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the sale, the senior vice president now owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the sale, the senior vice president now owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Barbara Adachi purchased 1,925 shares of Old Republic International stock in a transaction dated Friday, February 16th. The stock was acquired at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the acquisition, the director now directly owns 7,845 shares in the company, valued at $224,367. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ORI. Norges Bank acquired a new stake in shares of Old Republic International in the fourth quarter valued at approximately $89,446,000. Cowa LLC boosted its holdings in shares of Old Republic International by 10,030.0% in the 1st quarter. Cowa LLC now owns 2,825,961 shares of the insurance provider’s stock valued at $731,000 after purchasing an additional 2,798,064 shares during the last quarter. Comerica Bank purchased a new stake in Old Republic International during the second quarter valued at about $48,063,000. State Street Corp raised its holdings in shares of Old Republic International by 6.6% in the 3rd quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock worth $542,243,000 after purchasing an additional 1,601,571 shares during the period. Finally, UBS Group AG raised its stake in shares of Old Republic International by 1,208.9% in the 3rd quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after acquiring an additional 1,395,849 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, 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.