Raymond James Financial, Inc. Upgrades Old Republic International Corporation (ORI) to “Strong-Buy”

Old Republic International Corporation (NYSE:ORI) was upgraded by stock analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating in a report released on Monday, October 30th, MarketBeat.com reports. The brokerage presently has a $25.00 price target on the insurance provider’s stock, up from their prior price target of $23.00. Raymond James Financial, Inc.’s target price would suggest a potential upside of 20.77% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Old Republic International Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th. BidaskClub lowered Old Republic International Corporation from a “sell” rating to a “strong sell” rating in a research note on Sunday, July 16th.

Shares of Old Republic International Corporation (NYSE:ORI) traded up $0.04 on Monday, reaching $20.70. The company’s stock had a trading volume of 794,271 shares, compared to its average volume of 1,344,658. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.51. The stock has a market capitalization of $5,450.00, a PE ratio of 17.10 and a beta of 1.36. Old Republic International Corporation has a fifty-two week low of $17.53 and a fifty-two week high of $21.19.

Old Republic International Corporation (NYSE:ORI) last issued its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $1.56 billion during the quarter, compared to analysts’ expectations of $1.52 billion. Old Republic International Corporation had a return on equity of 7.50% and a net margin of 6.45%. The business’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 earnings per share. equities research analysts forecast that Old Republic International Corporation will post 1.17 EPS for the current year.

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A number of institutional investors have recently made changes to their positions in ORI. Teacher Retirement System of Texas raised its position in Old Republic International Corporation by 0.9% during the second quarter. Teacher Retirement System of Texas now owns 19,768 shares of the insurance provider’s stock valued at $386,000 after purchasing an additional 176 shares during the period. Honkamp Krueger Financial Services Inc. raised its position in Old Republic International Corporation by 2.9% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 12,428 shares of the insurance provider’s stock valued at $243,000 after purchasing an additional 346 shares during the period. State of Wisconsin Investment Board raised its position in Old Republic International Corporation by 0.7% during the second quarter. State of Wisconsin Investment Board now owns 48,609 shares of the insurance provider’s stock valued at $949,000 after purchasing an additional 350 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Old Republic International Corporation by 1.5% during the first quarter. Nomura Asset Management Co. Ltd. now owns 26,050 shares of the insurance provider’s stock valued at $533,000 after purchasing an additional 390 shares during the period. Finally, Lee Financial Co raised its position in Old Republic International Corporation by 0.9% during the second quarter. Lee Financial Co now owns 54,331 shares of the insurance provider’s stock valued at $1,061,000 after purchasing an additional 458 shares during the period. 70.07% of the stock is owned by institutional investors.

About Old Republic International Corporation

Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.

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