Old Republic International Corporation (ORI) Lifted to Strong-Buy at Raymond James Financial, Inc.

Old Republic International Corporation (NYSE:ORI) was upgraded by research analysts at Raymond James Financial, Inc. from an “outperform” rating to a “strong-buy” rating in a research report issued on Monday, October 30th, MarketBeat.com reports. The brokerage currently has a $25.00 price objective on the insurance provider’s stock, up from their prior price objective of $23.00. Raymond James Financial, Inc.’s price objective points to a potential upside of 20.02% from the company’s previous close.

A number of other research analysts have also recently issued reports on ORI. BidaskClub cut shares of Old Republic International Corporation from a “sell” rating to a “strong sell” rating in a research report on Sunday, July 16th. Zacks Investment Research lowered shares of Old Republic International Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd.

Shares of Old Republic International Corporation (ORI) opened at $20.83 on Monday. The firm has a market cap of $5,495.10, a price-to-earnings ratio of 17.07 and a beta of 1.36. The company has a current ratio of 0.51, a quick ratio of 0.50 and a debt-to-equity ratio of 0.32. Old Republic International Corporation has a 12-month low of $17.17 and a 12-month high of $21.19.

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

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A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Old Republic International Corporation by 1.1% in the second quarter. Vanguard Group Inc. now owns 21,094,198 shares of the insurance provider’s stock worth $411,970,000 after buying an additional 233,650 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Old Republic International Corporation by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,034,650 shares of the insurance provider’s stock worth $137,392,000 after buying an additional 64,292 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Old Republic International Corporation by 13.6% in the second quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance provider’s stock worth $133,300,000 after buying an additional 815,600 shares in the last quarter. Prudential Financial Inc. lifted its holdings in shares of Old Republic International Corporation by 6.2% in the third quarter. Prudential Financial Inc. now owns 2,460,286 shares of the insurance provider’s stock worth $48,443,000 after buying an additional 143,040 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Old Republic International Corporation by 2.5% in the second quarter. M&T Bank Corp now owns 1,698,125 shares of the insurance provider’s stock worth $33,166,000 after buying an additional 41,316 shares in the last quarter. 71.05% of the stock is currently owned by institutional investors and hedge funds.

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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