Old Republic International (NYSE:ORI) Sets New 52-Week High – Here’s Why

Old Republic International Co. (NYSE:ORI)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $39.84 and last traded at $39.83, with a volume of 1064262 shares changing hands. The stock had previously closed at $39.62.

Analysts Set New Price Targets

ORI has been the subject of several analyst reports. Piper Sandler boosted their target price on Old Republic International from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Old Republic International Price Performance

The company has a 50 day moving average of $37.31 and a 200 day moving average of $36.55. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 13.80 and a beta of 0.83.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Equities research analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio is 44.11%.

Insider Buying and Selling

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

Institutional Trading of Old Republic International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in Old Republic International in the third quarter valued at $28,000. Fairway Wealth LLC bought a new position in shares of Old Republic International in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Old Republic International in the fourth quarter valued at about $34,000. Core Alternative Capital bought a new stake in Old Republic International during the fourth quarter worth about $36,000. Finally, Synergy Asset Management LLC acquired a new position in Old Republic International during the fourth quarter valued at approximately $39,000. 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.