Piper Sandler Increases Old Republic International (NYSE:ORI) Price Target to $37.00

Old Republic International (NYSE:ORI) had its price objective raised by Piper Sandler from $36.00 to $37.00 in a research report released on Monday morning, Benzinga reports. The firm currently has an overweight rating on the insurance provider’s stock.

Old Republic International Price Performance

ORI stock opened at $34.92 on Monday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a 50 day moving average price of $35.36 and a 200-day moving average price of $32.70. Old Republic International has a 52-week low of $26.76 and a 52-week high of $36.50. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 14.67 and a beta of 0.84.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Equities research analysts forecast that Old Republic International will post 2.83 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently declared an annual dividend, which was paid on Monday, September 16th. Investors of record on Friday, September 6th were paid a $1.06 dividend. This represents a yield of 3.05%. The ex-dividend date of this dividend was Friday, September 6th. Old Republic International’s payout ratio is 44.54%.

Institutional Trading of Old Republic International

A number of institutional investors and hedge funds have recently bought and sold shares of ORI. Allworth Financial LP grew its holdings in shares of Old Republic International by 161.9% during the third quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock valued at $26,000 after buying an additional 450 shares during the last quarter. Versant Capital Management Inc boosted its stake in Old Republic International by 555.6% during the 2nd quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock valued at $27,000 after purchasing an additional 750 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Old Republic International by 201.0% in the 2nd quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 597 shares in the last quarter. Innealta Capital LLC purchased a new position in shares of Old Republic International in the second quarter worth $30,000. Finally, V Square Quantitative Management LLC bought a new position in shares of Old Republic International during the third quarter valued at $31,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Company Profile

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.