Old Republic International (NYSE:ORI) Price Target Raised to $43.00 at Piper Sandler

Old Republic International (NYSE:ORI) had its price objective hoisted by Piper Sandler from $41.00 to $43.00 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the insurance provider’s stock.

Separately, StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Old Republic International Trading Up 1.1 %

NYSE:ORI opened at $39.64 on Tuesday. The stock has a market capitalization of $9.84 billion, a price-to-earnings ratio of 15.07 and a beta of 0.83. Old Republic International has a 52 week low of $28.59 and a 52 week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $37.17 and a 200 day moving average of $36.50.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. As a group, sell-side analysts anticipate that Old Republic International will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s payout ratio is presently 44.11%.

Insider Activity

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now directly owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jeffrey Lange sold 1,098 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now directly owns 34,679 shares in the company, valued at $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 over the last ninety days. 1.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new position in shares of Old Republic International during the 4th quarter valued at about $105,581,000. Raymond James Financial Inc. acquired a new stake in Old Republic International during the fourth quarter worth about $67,054,000. Invesco Ltd. raised its position in Old Republic International by 26.4% during the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock valued at $85,044,000 after acquiring an additional 490,788 shares in the last quarter. Northern Trust Corp lifted its holdings in Old Republic International by 14.4% in the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider’s stock valued at $114,940,000 after acquiring an additional 400,384 shares during the period. Finally, Millennium Management LLC boosted its position in Old Republic International by 93.8% in the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider’s stock worth $29,802,000 after purchasing an additional 398,531 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

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.