BlackRock Fund Advisors recently announced the acquisition of new stake in Old Republic International Corporation (NYSE:ORI). The institutional investor has increased its shareholding in the Financial company by 0.55% to 31.32 million shares with purchase of 0.17 million shares. This fresh investment now brings its stake to 10.54% valued currently at $791.34 million. In addition, Victory Capital Management, Inc. raised its holdings by 0.84 million to 14.79 million shares. And Hamlin Capital Management LLC has lifted its position by 3.24% or 0.15 million shares – to 4.85 million shares.
With over 1.23 million Old Republic International Corporation (ORI) shares trading Tuesday and a closing price of $25.07 on the day, the dollar volume was approximately $30.72 million. The shares have shown a positive half year performance of 5.51% and its price on 05/23/23 lost nearly -0.40%. Currently, there are 291.95M common shares owned by the public and among those 281.09M shares have been available to trade.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for ORI have a consensus price objective of $28.00. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $27.00. The average price target is 10.46% above its recent price level and an upside to the estimated low will see the stock gain 7.15% over that period. But an upside of 13.55% will see the stock hit the forecast high price target while median target price for the stock is $28.00.
Insiders at the company have transacted a total of 34 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 31 of these insider trades were purchases, accounting for 353,909 shares. Insider sales of the common stock occurred on 3 occasions, with total insider shares sold totaling 98,489 shares.
The top 3 mutual fund holders in Old Republic International Corporation are SPDR S&P Dividend ETF, Victory Sycamore Established Valu, and iShares Core S&P Mid Cap ETF. SPDR S&P Dividend ETF owns 12.06 million shares of the company’s stock, all valued at over $304.73 million. The company sold 9930.0 shares recently to bring their total holdings to about 4.06% of the shares outstanding. Victory Sycamore Established Valu bought 0.82 million shares to see its total holdings expand to 9.75 million shares valued at over $246.38 million and representing 3.28% of the shares outstanding. iShares Core S&P Mid Cap ETF bought 30749.0 shares to bring its total holdings to over 8.61 million shares at a value of $217.52 million. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.90% of the shares outstanding.
Shares of Old Republic International Corporation (NYSE: ORI) opened at $25.11, down -$0.06 from a prior closing price of $25.17. However, the script later moved the day high at 25.33, down -0.40%. The company’s stock has a 5-day price change of -1.69% and -4.57% over the past three months. ORI shares are trading 3.81% year to date (YTD), with the 12-month market performance up to 16.28% higher. It has a 12-month low price of $20.03 and touched a high of $26.72 over the same period. ORI has an average intraday trading volume of 1.52 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.99%, 0.52%, and 4.38% respectively.
Institutional ownership of Old Republic International Corporation (NYSE: ORI) shares accounts for 74.30% of the company’s 291.95M shares outstanding. Mutual fund holders own 45.12%, while other institutional holders and individual stakeholders account for 8.28% and 28.36% respectively.
It has a market capitalization of $7.38B and a beta (3y monthly) value of 0.81. The stock’s trailing 12-month PE ratio is 12.73, while the earnings-per-share (ttm) stands at $1.97. The company has a PEG of 1.27 and the debt-to-equity ratio at 0.25. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.38% over the week and 1.75% over the month.
Analysts forecast that Old Republic International Corporation (ORI) will achieve an EPS of $0.56 for the current quarter, $0.59 for the next quarter and $2.57 for 2024. The lowest estimate earnings-per-share for the quarter is $0.53 while analysts give the company a high EPS estimate of $0.6. Comparatively, EPS for the current quarter was $0.69 a year ago. Earnings per share for the fiscal year are expected to decrease by -55.20%, and 6.71% over the next financial year. EPS should grow at an annualized rate of 10.00% over the next five years, compared to 1.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Old Republic International Corporation (ORI) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Leave a Reply