Old Republic International (NYSE:ORI) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Thursday. The firm currently has a $25.00 price target on the insurance provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.38% from the stock’s current price.
According to Zacks, “Old Republic International Corporation is organized as an insurance holding company whose subsidiaries actively market, underwrite, and provide risk management services for a wide variety of coverages mostly in the general and title insurance fields. A small life and accident insurance business is also conducted in the U.S. and Canada, principally as an adjunct to the Company’s general insurance operations. “
NYSE:ORI opened at $22.05 on Thursday. Old Republic International has a fifty-two week low of $19.48 and a fifty-two week high of $23.05. The stock has a market capitalization of $6.65 billion, a PE ratio of 19.86 and a beta of 1.20. The company has a current ratio of 1.27, a quick ratio of 0.49 and a debt-to-equity ratio of 0.18.
In related news, CFO Karl W. Mueller sold 9,879 shares of Old Republic International stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $22.00, for a total value of $217,338.00. Following the completion of the sale, the chief financial officer now directly owns 26,787 shares in the company, valued at approximately $589,314. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Itau Unibanco Holding S.A. boosted its stake in Old Republic International by 535.2% in the 2nd quarter. Itau Unibanco Holding S.A. now owns 7,470 shares of the insurance provider’s stock worth $149,000 after purchasing an additional 6,294 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Old Republic International in the 3rd quarter worth approximately $182,000. Advisors Asset Management Inc. boosted its stake in Old Republic International by 767.5% in the 2nd quarter. Advisors Asset Management Inc. now owns 25,783 shares of the insurance provider’s stock worth $201,000 after purchasing an additional 22,811 shares in the last quarter. IFP Advisors Inc boosted its stake in Old Republic International by 68.2% in the 3rd quarter. IFP Advisors Inc now owns 9,461 shares of the insurance provider’s stock worth $212,000 after purchasing an additional 3,836 shares in the last quarter. Finally, First Midwest Bank Trust Division acquired a new stake in Old Republic International in the 3rd quarter worth approximately $219,000. Institutional investors own 72.58% of the company’s stock.
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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