Piper Sandler Raises Old Republic International (NYSE:ORI) Price Target to $36.00

Old Republic International (NYSE:ORI) had its price objective hoisted by investment analysts at Piper Sandler from $35.00 to $36.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the insurance provider’s stock. Piper Sandler’s price objective indicates a potential upside of 0.73% from the company’s previous close.

Old Republic International Price Performance

NYSE:ORI traded up $0.41 during mid-day trading on Friday, reaching $35.74. The stock had a trading volume of 179,466 shares, compared to its average volume of 1,482,141. The stock has a market capitalization of $9.72 billion, a P/E ratio of 13.91 and a beta of 0.84. The firm has a 50 day moving average price of $34.88 and a two-hundred day moving average price of $32.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. Old Republic International has a one year low of $26.40 and a one year high of $36.09.

Old Republic International (NYSE:ORI) last released its 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. The company had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.92 billion. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. During the same quarter last year, the firm earned $0.62 EPS. As a group, analysts expect that Old Republic International will post 2.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new stake in Old Republic International in the second quarter worth $3,595,000. Cetera Investment Advisers lifted its position in shares of Old Republic International by 2.5% in the 2nd quarter. Cetera Investment Advisers now owns 104,326 shares of the insurance provider’s stock worth $3,224,000 after purchasing an additional 2,505 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Old Republic International during the 2nd quarter valued at about $7,186,000. EP Wealth Advisors LLC increased its position in shares of Old Republic International by 24.5% during the second quarter. EP Wealth Advisors LLC now owns 9,667 shares of the insurance provider’s stock valued at $299,000 after buying an additional 1,905 shares during the period. Finally, B. Riley Wealth Advisors Inc. bought a new position in Old Republic International in the second quarter worth about $451,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Company Profile

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.