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

Raymond James Financial, Inc. upgraded shares of Old Republic International Corporation (NYSE:ORI) from an outperform rating to a strong-buy rating in a report published on Monday morning, MarketBeat Ratings reports. They currently have $25.00 price objective on the insurance provider’s stock, up from their prior price objective of $23.00.

A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Old Republic International Corporation from a hold rating to a sell rating in a research note on Tuesday, October 17th. BidaskClub lowered Old Republic International Corporation from a sell rating to a strong sell rating in a research note on Sunday, July 16th.

Old Republic International Corporation (NYSE:ORI) last announced its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Old Republic International Corporation had a return on equity of 7.50% and a net margin of 6.45%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s revenue was up 4.6% on a year-over-year basis.

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Hedge funds have recently modified their holdings of the business. Ffcm LLC raised its position in Old Republic International Corporation by 185.0% during the second quarter. Ffcm LLC now owns 6,008 shares of the insurance provider’s stock valued at $119,000 after purchasing an additional 3,900 shares during the period. Legg Mason Asset Management Japan Co. Ltd. purchased a new stake in Old Republic International Corporation during the second quarter valued at approximately $174,000. Chicago Partners Investment Group LLC purchased a new stake in Old Republic International Corporation during the second quarter valued at approximately $181,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Old Republic International Corporation by 7.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,655 shares of the insurance provider’s stock valued at $189,000 after purchasing an additional 710 shares during the period. Finally, Hartford Investment Management Co. purchased a new stake in Old Republic International Corporation during the second quarter valued at approximately $206,000. Institutional investors and hedge funds own 71.23% of the company’s stock.

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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