Old Republic International (NYSE:ORI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, December 20th. The firm currently has a $23.00 target price on the insurance provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 15.99% from the company’s current price.
According to Zacks, “Old Republic International Corporation is Chicago-based and is an insurance holding company whose subsidiaries market, underwrite and provide risk management services for a wide variety of coverages in the property and liability, mortgage guaranty, title and life and health insurance fields. “
Separately, Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price target for the company from $23.00 to $25.00 in a research report on Monday, October 30th.
Shares of Old Republic International (NYSE ORI) traded up $0.07 on Wednesday, hitting $19.83. 2,322,419 shares of the stock were exchanged, compared to its average volume of 2,908,790. The company has a market cap of $5,230.00, a price-to-earnings ratio of 14.69 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.51 and a quick ratio of 0.51. Old Republic International has a 52-week low of $17.92 and a 52-week high of $21.56.
Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Old Republic International had a net margin of 6.45% and a return on equity of 7.50%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the previous year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. sell-side analysts expect that Old Republic International will post 1.17 earnings per share for the current fiscal year.
In other Old Republic International news, CFO Karl W. Mueller sold 19,052 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $21.00, for a total value of $400,092.00. Following the completion of the transaction, the chief financial officer now directly owns 5,331 shares in the company, valued at $111,951. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Charles S. Boone sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $20.96, for a total transaction of $314,400.00. Following the completion of the transaction, the vice president now owns 22,750 shares of the company’s stock, valued at $476,840. The disclosure for this sale can be found here. Insiders have sold 81,552 shares of company stock valued at $1,711,992 over the last three months. 2.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of ORI. Renaissance Technologies LLC boosted its position in shares of Old Republic International by 13.6% in the second quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance provider’s stock worth $133,300,000 after purchasing an additional 815,600 shares during the period. Koch Industries Inc. bought a new position in shares of Old Republic International in the second quarter worth approximately $385,000. Janus Henderson Group PLC bought a new position in shares of Old Republic International during the second quarter worth $7,344,000. Capital Returns Management LLC boosted its position in shares of Old Republic International by 37.1% during the third quarter. Capital Returns Management LLC now owns 1,311,393 shares of the insurance provider’s stock worth $25,821,000 after acquiring an additional 354,975 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in shares of Old Republic International by 664.3% during the second quarter. Rafferty Asset Management LLC now owns 334,853 shares of the insurance provider’s stock worth $6,540,000 after acquiring an additional 291,039 shares during the last quarter. Institutional investors and hedge funds own 70.64% of the company’s stock.
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Old Republic International Company Profile
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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