Old Republic International (NYSE:ORI) Price Target Raised to $37.00 at Piper Sandler

Old Republic International (NYSE:ORI) had its target price boosted by analysts at Piper Sandler from $36.00 to $37.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price target indicates a potential upside of 2.29% from the company’s current price.

Old Republic International Stock Performance

NYSE ORI traded down $0.23 on Monday, reaching $36.17. The stock had a trading volume of 148,209 shares, compared to its average volume of 1,444,662. Old Republic International has a 1-year low of $26.40 and a 1-year high of $36.50. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.29 and a quick ratio of 0.29. The company has a market cap of $9.83 billion, a P/E ratio of 14.07 and a beta of 0.84. The firm has a fifty day moving average of $35.24 and a two-hundred day moving average of $32.59.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.61 by $0.15. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the company posted $0.62 earnings per share. On average, equities research analysts anticipate that Old Republic International will post 2.83 EPS for the current year.

Hedge Funds Weigh In On Old Republic International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its position in shares of Old Republic International by 26.4% in the first quarter. Nordea Investment Management AB now owns 551,744 shares of the insurance provider’s stock worth $17,032,000 after purchasing an additional 115,324 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Old Republic International by 9.6% during the 1st quarter. First Eagle Investment Management LLC now owns 419,685 shares of the insurance provider’s stock worth $12,893,000 after acquiring an additional 36,700 shares during the period. Retirement Systems of Alabama boosted its position in shares of Old Republic International by 4.7% during the 1st quarter. Retirement Systems of Alabama now owns 655,137 shares of the insurance provider’s stock worth $20,126,000 after acquiring an additional 29,159 shares in the last quarter. SG Americas Securities LLC increased its stake in Old Republic International by 309.6% in the second quarter. SG Americas Securities LLC now owns 21,695 shares of the insurance provider’s stock valued at $670,000 after acquiring an additional 16,399 shares during the last quarter. Finally, Rothschild Investment LLC acquired a new position in Old Republic International during the second quarter valued at approximately $1,945,000. 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.