Zacks: Analysts Set $25.00 Price Target for Old Republic International Co. (NYSE:ORI)

Old Republic International Co. (NYSE:ORI) has earned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Old Republic International’s rating score has declined by 100% from 90 days ago as a result of a number of analysts’ ratings changes.

Brokerages have set a 12 month consensus price objective of $25.00 for the company and are forecasting that the company will post $0.50 earnings per share for the current quarter, according to Zacks. Zacks has also given Old Republic International an industry rank of 70 out of 256 based on the ratings given to related companies.

Several equities research analysts have issued reports on the stock. JMP Securities lowered shares of Old Republic International from an “outperform” rating to a “market perform” rating in a research note on Friday, July 12th. Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.

Shares of ORI traded up $0.28 during mid-day trading on Friday, hitting $22.69. 1,464,780 shares of the company’s stock were exchanged, compared to its average volume of 1,481,826. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.48 and a quick ratio of 0.48. Old Republic International has a 52 week low of $19.55 and a 52 week high of $23.82. The company has a market cap of $6.82 billion, a PE ratio of 12.20 and a beta of 0.78. The company has a 50-day simple moving average of $22.68 and a 200 day simple moving average of $22.09.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.45 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.45. The business had revenue of $1.61 billion for the quarter, compared to analyst estimates of $1.56 billion. Old Republic International had a net margin of 11.35% and a return on equity of 10.21%. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, analysts anticipate that Old Republic International will post 1.85 earnings per share for the current year.

The company also recently announced a None dividend, which will be paid on Monday, September 16th. Investors of record on Friday, September 6th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Thursday, September 5th. Old Republic International’s payout ratio is 43.01%.

In other news, VP Cheryl A. Jones sold 3,250 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $22.85, for a total transaction of $74,262.50. Following the transaction, the vice president now directly owns 10,738 shares in the company, valued at approximately $245,363.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Karl W. Mueller sold 20,760 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $23.25, for a total transaction of $482,670.00. Following the completion of the sale, the chief financial officer now directly owns 52,539 shares in the company, valued at $1,221,531.75. The disclosure for this sale can be found here. Insiders have sold 39,510 shares of company stock worth $910,953 over the last ninety days. Insiders own 1.90% of the company’s stock.

Large investors have recently modified their holdings of the stock. Parallel Advisors LLC raised its stake in Old Republic International by 29.1% in the 2nd quarter. Parallel Advisors LLC now owns 2,257 shares of the insurance provider’s stock valued at $51,000 after acquiring an additional 509 shares during the period. CIBC Private Wealth Group LLC grew its stake in Old Republic International by 0.8% in the 2nd quarter. CIBC Private Wealth Group LLC now owns 75,775 shares of the insurance provider’s stock valued at $1,696,000 after buying an additional 569 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Old Republic International by 4.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,188 shares of the insurance provider’s stock valued at $429,000 after buying an additional 740 shares during the last quarter. Municipal Employees Retirement System of Michigan lifted its position in Old Republic International by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 52,620 shares of the insurance provider’s stock worth $1,178,000 after acquiring an additional 760 shares during the last quarter. Finally, Ridgewood Investments LLC boosted its holdings in shares of Old Republic International by 4.9% during the second quarter. Ridgewood Investments LLC now owns 17,894 shares of the insurance provider’s stock worth $400,000 after acquiring an additional 841 shares during the period. Institutional investors and hedge funds own 74.91% of the company’s stock.

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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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