Old Republic International (NYSE:ORI) Price Target Raised to $36.00 at Piper Sandler

Old Republic International (NYSE:ORI) had its price objective boosted by Piper Sandler from $35.00 to $36.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the insurance provider’s stock.

Old Republic International Stock Down 3.3 %

ORI stock opened at $34.69 on Friday. The company has a 50 day moving average price of $34.94 and a two-hundred day moving average price of $32.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market capitalization of $8.97 billion, a P/E ratio of 13.50 and a beta of 0.84. Old Republic International has a one year low of $26.40 and a one year high of $36.09.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.15. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. The firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, sell-side analysts expect that Old Republic International will post 2.83 EPS for the current year.

Old Republic International Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, September 6th were paid a $1.06 dividend. This represents a dividend yield of 3.05%. The ex-dividend date was Friday, September 6th. Old Republic International’s dividend payout ratio is currently 41.25%.

Institutional Trading of Old Republic International

A number of institutional investors have recently added to or reduced their stakes in ORI. Versant Capital Management Inc increased its stake 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 buying an additional 750 shares during the period. Mather Group LLC. boosted its holdings in Old Republic International by 201.0% in the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 597 shares during the last quarter. Innealta Capital LLC purchased a new stake in Old Republic International during the 2nd quarter worth approximately $30,000. Quarry LP purchased a new stake in Old Republic International during the 4th quarter worth approximately $39,000. Finally, Trust Co. of Vermont boosted its stake in shares of Old Republic International by 138.4% during the 4th quarter. Trust Co. of Vermont now owns 1,988 shares of the insurance provider’s stock valued at $58,000 after buying an additional 1,154 shares during the last quarter. 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.