Piper Sandler Increases Old Republic International (NYSE:ORI) Price Target to $37.00

Old Republic International (NYSE:ORI) had its target price increased by research analysts at Piper Sandler from $36.00 to $37.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target suggests a potential upside of 3.44% from the stock’s current price.

Old Republic International Price Performance

Shares of NYSE ORI opened at $35.77 on Monday. The stock has a fifty day moving average price of $35.32 and a 200 day moving average price of $32.67. Old Republic International has a 1-year low of $26.40 and a 1-year high of $36.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $9.25 billion, a PE ratio of 15.03 and a beta of 0.84.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 25th. The insurance provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.61 by $0.15. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the business earned $0.62 EPS. Sell-side analysts forecast that Old Republic International will post 2.83 EPS for the current year.

Institutional Trading of Old Republic International

Several hedge funds have recently modified their holdings of ORI. Nordea Investment Management AB raised its position in Old Republic International by 26.4% in the first quarter. Nordea Investment Management AB now owns 551,744 shares of the insurance provider’s stock worth $17,032,000 after acquiring an additional 115,324 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Old Republic International by 9.6% during the 1st quarter. First Eagle Investment Management LLC now owns 419,685 shares of the insurance provider’s stock worth $12,893,000 after purchasing an additional 36,700 shares during the period. Retirement Systems of Alabama increased its holdings in shares of Old Republic International by 4.7% in the 1st quarter. Retirement Systems of Alabama now owns 655,137 shares of the insurance provider’s stock valued at $20,126,000 after purchasing an additional 29,159 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Old Republic International by 309.6% in the second quarter. SG Americas Securities LLC now owns 21,695 shares of the insurance provider’s stock valued at $670,000 after purchasing an additional 16,399 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Old Republic International during the second quarter worth about $1,945,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.