Analysts Set $25.00 Target Price for Old Republic International Co. (NYSE:ORI)
Shares of Old Republic International Co. (NYSE:ORI) have received an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has given a strong buy recommendation to the company. Old Republic International’s rating score has declined by 100% from three months ago as a result of various analysts’ ratings changes.
Analysts have set a 1-year consensus price target of $25.00 for the company and are expecting that the company will post $0.50 EPS for the current quarter, according to Zacks. Zacks has also given Old Republic International an industry rank of 70 out of 256 based on the ratings given to related companies.
Several research analysts have commented on ORI shares. JMP Securities downgraded Old Republic International from an “outperform” rating to a “market perform” rating in a report on Friday, July 12th. Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th.
Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 25th. The insurance provider reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.56 billion. Old Republic International had a return on equity of 10.21% and a net margin of 11.35%. Old Republic International’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. On average, research analysts expect that Old Republic International will post 1.85 earnings per share for the current year.
The company also recently declared a None dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, September 6th will be given a $1.20 dividend. The ex-dividend date is Thursday, September 5th. Old Republic International’s dividend payout ratio (DPR) is currently 43.01%.
In other news, CFO Karl W. Mueller sold 20,760 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $23.25, for a total value of $482,670.00. Following the transaction, the chief financial officer now directly owns 52,539 shares of the company’s stock, valued at approximately $1,221,531.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Charles S. Boone sold 15,500 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $22.84, for a total value of $354,020.00. Following the sale, the vice president now owns 23,250 shares in the company, valued at approximately $531,030. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 39,510 shares of company stock worth $910,953. Insiders own 1.90% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Hancock Whitney Corp grew its position in shares of Old Republic International by 12.9% during the 2nd quarter. Hancock Whitney Corp now owns 81,140 shares of the insurance provider’s stock worth $1,816,000 after buying an additional 9,259 shares during the period. Atria Investments LLC acquired a new position in shares of Old Republic International during the 2nd quarter valued at $320,000. BlackRock Inc. boosted its stake in Old Republic International by 1.9% during the second quarter. BlackRock Inc. now owns 33,466,270 shares of the insurance provider’s stock worth $748,972,000 after acquiring an additional 612,203 shares in the last quarter. Colony Group LLC boosted its stake in Old Republic International by 829.4% during the second quarter. Colony Group LLC now owns 251,717 shares of the insurance provider’s stock worth $5,633,000 after acquiring an additional 224,634 shares in the last quarter. Finally, Prudential PLC acquired a new stake in Old Republic International in the second quarter worth $202,000. 74.91% of the stock is currently owned by hedge funds and other 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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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