Old Republic International (NYSE:ORI) Cut to Outperform at Raymond James

Old Republic International (NYSE:ORI – Get Rating) was downgraded by investment analysts at Raymond James from a “strong-buy” rating to an “outperform” rating in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $28.00 price target on the insurance provider’s stock, down from their previous price target of $30.00. Raymond James’ target price indicates a potential upside of 21.37% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. StockNews.com began coverage on shares of Old Republic International in a report on Thursday, March 31st. They issued a “buy” rating for the company. Zacks Investment Research cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th.

Shares of NYSE:ORI opened at $23.07 on Friday. The firm’s 50 day moving average is $25.32 and its two-hundred day moving average is $25.24. Old Republic International has a 52 week low of $22.18 and a 52 week high of $27.19. The firm has a market capitalization of $7.11 billion, a P/E ratio of 4.54 and a beta of 0.79. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.23.

Old Republic International (NYSE:ORI – Get Rating) last posted its quarterly earnings data on Thursday, January 27th. The insurance provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.17. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Old Republic International had a net margin of 16.42% and a return on equity of 14.17%. During the same period last year, the firm posted $0.75 earnings per share. Analysts predict that Old Republic International will post 2.8 EPS for the current year.

In other Old Republic International news, Director Barbara Adachi bought 2,300 shares of Old Republic International stock in a transaction that occurred on Friday, March 18th. The stock was purchased at an average cost of $25.84 per share, for a total transaction of $59,432.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 2,890 shares of company stock valued at $74,719 over the last 90 days. 1.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. TCI Wealth Advisors Inc. boosted its holdings in Old Republic International by 159.4% during the first quarter. TCI Wealth Advisors Inc. now owns 1,074 shares of the insurance provider’s stock worth $28,000 after buying an additional 660 shares in the last quarter. Hillsdale Investment Management Inc. boosted its stake in Old Republic International by 4,380.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 22,400 shares of the insurance provider’s stock worth $580,000 after purchasing an additional 21,900 shares during the period. Parallel Advisors LLC boosted its stake in Old Republic International by 31.7% in the 1st quarter. Parallel Advisors LLC now owns 9,736 shares of the insurance provider’s stock worth $257,000 after purchasing an additional 2,343 shares during the period. Hardy Reed LLC acquired a new position in Old Republic International in the 1st quarter worth approximately $36,000. Finally, First Citizens Bank & Trust Co. boosted its stake in Old Republic International by 4.6% in the 1st quarter. First Citizens Bank & Trust Co. now owns 11,694 shares of the insurance provider’s stock worth $303,000 after purchasing an additional 510 shares during the period. Hedge funds and other institutional investors own 71.67% of the company’s stock.

Old Republic International Company Profile (Get Rating)

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, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

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