Old Republic International (NYSE:ORI) Hits New 1-Year High – Here’s Why

Old Republic International Co. (NYSE:ORI)’s share price reached a new 52-week high during trading on Thursday . The company 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

Several brokerages have recently weighed in on ORI. Piper Sandler raised their price objective on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday. StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Old Republic International Trading Up 0.5 %

The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 15.14 and a beta of 0.83. The business’s 50 day simple moving average is $37.25 and its 200 day simple moving average is $36.53. 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 posted its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping 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%. On average, research analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio is 44.11%.

Insiders Place Their Bets

In other news, CEO Craig R. Smiddy sold 5,296 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares in the company, valued at $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 43,039 shares of company stock valued at $1,580,733 over the last ninety days. 1.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB acquired a new stake in shares of Old Republic International during the third quarter worth $28,000. Fairway Wealth LLC acquired a new stake in Old Republic International in the 4th quarter worth about $29,000. SBI Securities Co. Ltd. bought a new stake in Old Republic International in the 4th quarter valued at about $34,000. Core Alternative Capital acquired a new position in shares of Old Republic International during the 4th quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of Old Republic International during the fourth quarter worth approximately $39,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.