Old Republic International (NYSE:ORI) Earns “Neutral” Rating from Piper Sandler

Old Republic International (NYSE:ORI)‘s stock had its “neutral” rating restated by equities researchers at Piper Sandler in a research note issued on Thursday, MarketBeat reports. They presently have a $38.00 price objective on the insurance provider’s stock. Piper Sandler’s price target would indicate a potential downside of 1.84% from the company’s previous close.

Separately, Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $42.50.

Old Republic International Price Performance

Shares of NYSE ORI traded down $4.41 during midday trading on Thursday, reaching $38.71. 1,711,924 shares of the company were exchanged, compared to its average volume of 1,582,906. The stock’s 50-day moving average price is $44.57 and its 200-day moving average price is $41.35. The stock has a market cap of $9.58 billion, a P/E ratio of 12.95 and a beta of 0.76. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. Old Republic International has a one year low of $34.43 and a one year high of $46.76.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $0.90 EPS. On average, sell-side analysts anticipate that Old Republic International will post 3.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Old Republic International

In related news, Director Therace Risch bought 1,000 shares of Old Republic International stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the transaction, the director owned 10,625 shares in the company, valued at $415,862.50. The trade was a 10.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $44.54, for a total transaction of $297,527.20. Following the transaction, the senior vice president owned 29,075 shares in the company, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB increased its position in shares of Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 222 shares during the last quarter. Signet Financial Management LLC grew its position in Old Republic International by 2.5% during the 4th quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider’s stock worth $500,000 after purchasing an additional 263 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after buying an additional 274 shares during the period. Burney Co. grew its stake in shares of Old Republic International by 0.3% during the 2nd quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock worth $3,456,000 after purchasing an additional 276 shares during the period. Finally, Clearstead Trust LLC lifted its position in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the period. Institutional investors and hedge funds own 70.92% 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. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.