Old Republic International (NYSE:ORI) Reaches New 12-Month High – Should You Buy?

Shares of Old Republic International Corporation (NYSE:ORI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $44.47 and last traded at $44.2010, with a volume of 1448754 shares. The stock had previously closed at $43.45.

Wall Street Analyst Weigh In

Several research firms have recently commented on ORI. Piper Sandler reduced their target price on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price objective for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, Old Republic International presently has an average rating of “Strong Buy” and an average price target of $46.50.

Old Republic International Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 0.64 and a quick ratio of 0.25. The company has a fifty day moving average price of $41.27 and a 200 day moving average price of $38.98. The company has a market capitalization of $11.04 billion, a P/E ratio of 14.91 and a beta of 0.79.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. On average, sell-side analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Insider Activity

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Therace Risch purchased 1,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the purchase, the director directly owned 9,625 shares of the company’s stock, valued at $384,037.50. This trade represents a 18.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Old Republic International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brandywine Global Investment Management LLC boosted its stake in shares of Old Republic International by 15.9% during the 1st quarter. Brandywine Global Investment Management LLC now owns 635,855 shares of the insurance provider’s stock valued at $24,938,000 after buying an additional 87,398 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Old Republic International by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,533,958 shares of the insurance provider’s stock worth $60,162,000 after acquiring an additional 108,711 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of Old Republic International by 83.2% during the first quarter. Kovitz Investment Group Partners LLC now owns 22,702 shares of the insurance provider’s stock worth $890,000 after acquiring an additional 10,312 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Old Republic International by 19.0% during the first quarter. Russell Investments Group Ltd. now owns 88,747 shares of the insurance provider’s stock valued at $3,480,000 after purchasing an additional 14,167 shares during the last quarter. Finally, Foster & Motley Inc. grew its stake in Old Republic International by 32.5% in the second quarter. Foster & Motley Inc. now owns 40,272 shares of the insurance provider’s stock valued at $1,548,000 after purchasing an additional 9,876 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

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.