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

Old Republic International Co. (NYSE:ORI) hit a new 52-week high during trading on Thursday . The stock traded as high as $39.84 and last traded at $39.83, with a volume of 1064262 shares. The stock had previously closed at $39.62.

Analyst Ratings Changes

ORI has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Old Republic International Stock Down 7.8 %

The company has a market cap of $9.01 billion, a price-to-earnings ratio of 13.80 and a beta of 0.83. The firm has a 50-day moving average price of $37.31 and a 200 day moving average price of $36.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Sell-side analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is 44.11%.

Insider Transactions at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 9,188 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total transaction of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,039 shares of company stock valued at $1,580,733. 1.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cerity Partners LLC grew its holdings in shares of Old Republic International by 11.4% during the 3rd quarter. Cerity Partners LLC now owns 14,052 shares of the insurance provider’s stock valued at $498,000 after purchasing an additional 1,434 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Old Republic International by 36.1% during the third quarter. Bank of Montreal Can now owns 63,083 shares of the insurance provider’s stock worth $2,232,000 after buying an additional 16,744 shares during the last quarter. BNP Paribas Financial Markets grew its stake in shares of Old Republic International by 138.6% during the third quarter. BNP Paribas Financial Markets now owns 40,403 shares of the insurance provider’s stock worth $1,431,000 after buying an additional 23,471 shares during the last quarter. Rockefeller Capital Management L.P. bought a new position in shares of Old Republic International in the 3rd quarter valued at $378,000. Finally, Verition Fund Management LLC acquired a new stake in shares of Old Republic International during the 3rd quarter valued at $561,000. Institutional investors own 70.92% of the company’s stock.

About Old Republic International

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.