Old Republic International Co. (NYSE:ORI)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $23.53 and last traded at $23.53, with a volume of 47572 shares traded. The stock had previously closed at $23.38.
A number of equities analysts recently weighed in on ORI shares. Raymond James upped their target price on shares of Old Republic International from $21.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 5th. Zacks Investment Research cut Old Republic International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 7th.
The firm has a market cap of $7.17 billion, a price-to-earnings ratio of 21.87 and a beta of 0.76. The company’s fifty day moving average is $21.31 and its 200 day moving average is $18.70. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.16.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Wednesday, January 27th. The insurance provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.43 by $0.32. The firm had revenue of $2.05 billion for the quarter, compared to analysts’ expectations of $1.75 billion. Old Republic International had a net margin of 4.85% and a return on equity of 10.24%. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. On average, equities research analysts forecast that Old Republic International Co. will post 1.9 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Tuesday, March 9th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Monday, March 8th. This is a boost from Old Republic International’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.74%. Old Republic International’s dividend payout ratio is 47.83%.
In related news, EVP Stephen J. Oberst sold 14,000 shares of the firm’s stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $19.21, for a total value of $268,940.00. Following the completion of the sale, the executive vice president now directly owns 20,771 shares in the company, valued at approximately $399,010.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Denard Kennedy purchased 1,352 shares of the stock in a transaction on Monday, February 22nd. The shares were acquired at an average cost of $19.94 per share, for a total transaction of $26,958.88. Following the transaction, the director now owns 2,846 shares of the company’s stock, valued at $56,749.24. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 2,102 shares of company stock valued at $41,894. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of ORI. Integer Wealth Advisors Group LLC bought a new position in Old Republic International during the first quarter worth $250,000. First Hawaiian Bank boosted its holdings in shares of Old Republic International by 17.1% during the 1st quarter. First Hawaiian Bank now owns 15,701 shares of the insurance provider’s stock worth $343,000 after buying an additional 2,289 shares during the period. Dimensional Fund Advisors LP raised its holdings in Old Republic International by 9.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,156,438 shares of the insurance provider’s stock valued at $141,051,000 after acquiring an additional 607,938 shares during the period. Eaton Vance Management lifted its position in Old Republic International by 1,793.4% during the fourth quarter. Eaton Vance Management now owns 1,181,023 shares of the insurance provider’s stock worth $23,278,000 after acquiring an additional 1,118,646 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Old Republic International in the fourth quarter valued at approximately $63,951,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.
About Old Republic International (NYSE:ORI)
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.