Zacks Research Upgrades Old Republic International (NYSE:ORI) to “Hold”

Old Republic International (NYSE:ORI) was upgraded by equities research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 13th. Piper Sandler restated a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $42.50.

Old Republic International Trading Up 2.4%

Shares of ORI stock opened at $39.17 on Monday. The company has a market capitalization of $9.62 billion, a P/E ratio of 11.55 and a beta of 0.73. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $41.06 and its two-hundred day moving average is $42.27. Old Republic International has a twelve month low of $34.43 and a twelve month high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the previous year, the firm posted $0.90 EPS. Equities analysts forecast that Old Republic International will post 3.17 EPS for the current year.

Insiders Place Their Bets

In related news, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carolyn Monroe sold 5,526 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the transaction, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Institutional Trading of Old Republic International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Forty three Eighteen Advisors LLC purchased a new stake in Old Republic International during the fourth quarter worth about $2,126,000. Rockefeller Capital Management L.P. increased its holdings in Old Republic International by 2.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 14,388 shares of the insurance provider’s stock valued at $657,000 after buying an additional 323 shares in the last quarter. World Investment Advisors increased its holdings in Old Republic International by 42.9% in the fourth quarter. World Investment Advisors now owns 13,194 shares of the insurance provider’s stock valued at $602,000 after buying an additional 3,963 shares in the last quarter. Nalls Sherbakoff Group LLC acquired a new stake in shares of Old Republic International during the 4th quarter valued at approximately $92,000. Finally, Corient Private Wealth LLC lifted its position in shares of Old Republic International by 19.1% during the 4th quarter. Corient Private Wealth LLC now owns 101,632 shares of the insurance provider’s stock valued at $4,640,000 after acquiring an additional 16,319 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.