Old Republic International (NYSE:ORI) Hits New 52-Week High – Here’s Why

Old Republic International Co. (NYSE:ORI)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $37.94 and last traded at $37.94, with a volume of 1101 shares changing hands. The stock had previously closed at $35.77.

Analyst Upgrades and Downgrades

Separately, Piper Sandler lifted their price objective on Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday.

Old Republic International Trading Down 2.4 %

The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $9.03 billion, a P/E ratio of 14.67 and a beta of 0.84. The stock’s 50-day moving average is $35.36 and its two-hundred day moving average is $32.70.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the business posted $0.62 EPS. As a group, equities research analysts predict that Old Republic International Co. will post 2.83 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

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

Hedge Funds Weigh In On Old Republic International

A number of institutional investors and hedge funds have recently made changes to their positions in ORI. Wellington Management Group LLP grew its position in shares of Old Republic International by 53.0% during the 4th quarter. Wellington Management Group LLP now owns 73,628 shares of the insurance provider’s stock valued at $2,165,000 after acquiring an additional 25,503 shares during the period. Dumont & Blake Investment Advisors LLC increased its position in Old Republic International by 1.0% in the first quarter. Dumont & Blake Investment Advisors LLC now owns 57,263 shares of the insurance provider’s stock worth $1,759,000 after buying an additional 549 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Old Republic International by 17.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 31,120 shares of the insurance provider’s stock worth $956,000 after buying an additional 4,597 shares during the period. Woodmont Investment Counsel LLC raised its position in shares of Old Republic International by 1.6% during the first quarter. Woodmont Investment Counsel LLC now owns 122,464 shares of the insurance provider’s stock valued at $3,762,000 after buying an additional 1,987 shares during the last quarter. Finally, Applied Capital LLC FL purchased a new position in shares of Old Republic International in the first quarter worth $465,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

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.