Piper Sandler Forecasts Strong Price Appreciation for Old Republic International (NYSE:ORI) Stock

Old Republic International (NYSE:ORI) had its target price lifted by analysts at Piper Sandler from $41.00 to $43.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target indicates a potential upside of 7.96% from the company’s current price.

Separately, StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Old Republic International Price Performance

Shares of ORI stock opened at $39.83 on Tuesday. Old Republic International has a 12-month low of $28.59 and a 12-month high of $39.84. The firm has a fifty day moving average of $37.25 and a 200-day moving average of $36.53. The firm has a market capitalization of $9.89 billion, a price-to-earnings ratio of 15.14 and a beta of 0.83. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. On average, equities research analysts forecast that Old Republic International will post 3.17 earnings per share for the current year.

Insider Activity at Old Republic International

In other news, VP Thomas Dare sold 27,457 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the transaction, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. The trade was a 37.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jeffrey Lange sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares in the company, valued at $1,267,864.24. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,039 shares of company stock valued at $1,580,733. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Old Republic International

Several institutional investors and hedge funds have recently made changes to their positions in the company. Parallel Advisors LLC lifted its holdings in shares of Old Republic International by 1.6% during the fourth quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider’s stock worth $683,000 after buying an additional 290 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Old Republic International by 1.6% in the 4th quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider’s stock valued at $677,000 after buying an additional 295 shares in the last quarter. Ironwood Investment Management LLC lifted its stake in Old Republic International by 1.3% during the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider’s stock worth $850,000 after purchasing an additional 301 shares during the last quarter. Atomi Financial Group Inc. lifted its position in shares of Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock worth $279,000 after buying an additional 302 shares during the last quarter. Finally, Berry Wealth Group LP lifted its holdings in shares of Old Republic International by 5.2% in the fourth quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider’s stock worth $226,000 after acquiring an additional 310 shares during the last quarter. Institutional investors and hedge funds 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.