Old Republic International (NYSE:ORI) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Old Republic International Corporation (NYSE:ORI)’s stock price crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $39.50 and traded as high as $40.00. Old Republic International shares last traded at $39.9530, with a volume of 2,187,732 shares trading hands.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, September 18th. Piper Sandler boosted their price target on Old Republic International from $39.00 to $42.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Finally, Raymond James Financial lowered Old Republic International from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $48.00 to $45.00 in a research report on Friday, October 23rd. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.50.

Old Republic International Trading Up 3.0%

The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.30 and a current ratio of 0.29. The firm has a market capitalization of $9.58 billion, a PE ratio of 9.00 and a beta of 0.52. The stock’s 50-day simple moving average is $39.50 and its 200-day simple moving average is $40.42.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, October 22nd. The insurance provider reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.06). Old Republic International had a net margin of 11.19% and a return on equity of 12.13%. The company had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same period in the previous year, the firm posted $0.78 EPS. As a group, sell-side analysts expect that Old Republic International Corporation will post 2.78 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were given a $0.3150 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. Old Republic International’s dividend payout ratio is currently 28.38%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 4,386 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total transaction of $184,255.86. Following the sale, the senior vice president directly owned 27,875 shares in the company, valued at $1,171,028.75. The trade was a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.32% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Old Republic International

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio purchased a new stake in shares of Old Republic International during the 2nd quarter valued at about $2,855,000. Bank of New York Mellon Corp bought a new position in Old Republic International during the second quarter valued at approximately $491,660,000. Engineers Gate Manager LP purchased a new stake in Old Republic International in the second quarter worth approximately $1,232,000. Squarepoint Ops LLC boosted its holdings in Old Republic International by 574.7% in the second quarter. Squarepoint Ops LLC now owns 107,899 shares of the insurance provider’s stock worth $4,415,000 after purchasing an additional 91,908 shares during the last quarter. Finally, ASK Capital Investment Managers LLC bought a new stake in Old Republic International in the 3rd quarter worth approximately $3,234,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Company Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.