Old Republic International (NYSE:ORI) Upgraded at Zacks Research

Zacks Research upgraded shares of Old Republic International (NYSE:ORI) from a strong sell rating to a hold rating in a report published on Monday morning,Zacks.com reports.

Other research analysts have also issued research reports about the stock. Weiss Ratings upgraded shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 13th. Piper Sandler restated a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Old Republic International has an average rating of “Buy” and a consensus target price of $42.50.

Old Republic International Trading Up 0.5%

ORI stock opened at $39.39 on Monday. Old Republic International has a one year low of $34.43 and a one year high of $46.76. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 11.62 and a beta of 0.73. The company has a fifty day moving average price of $40.98 and a two-hundred day moving average price of $42.25. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter in the prior year, the business earned $0.90 earnings per share. Equities analysts anticipate that Old Republic International will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were issued a dividend of $0.315 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International’s payout ratio is 37.17%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the sale, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. The trade was a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Eric Smith acquired 1,135 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $43.10 per share, with a total value of $48,918.50. Following the purchase, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in shares of Old Republic International by 230.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after buying an additional 8,266,829 shares during the period. Thrivent Financial for Lutherans increased its stake in Old Republic International by 2,840.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after acquiring an additional 3,793,085 shares during the period. GQG Partners LLC bought a new position in Old Republic International during the 4th quarter worth $155,960,000. Norges Bank acquired a new position in Old Republic International in the 2nd quarter valued at $115,071,000. Finally, AQR Capital Management LLC raised its holdings in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after acquiring an additional 2,066,965 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Company Profile

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.