Professional
Added to YB: 2025-12-30
Pitch date: 2025-05-10
ORI [bullish]
Old Republic International Corporation
+23.04%
current return
Author Info
Cedar Street Research delivers unique insights by leveraging an unconventional approach to financial analysis, combining the power of historical trends with bespoke data in order to uncover deep, actionable predictions about the future. We specialize in insurance companies, but extend our services to banks and specialty finance firms as well. Sign up for the newsletter.
Company Info
Old Republic International Corporation, through its subsidiaries, provides insurance underwriting and related services primarily in the United States and Canada.
Market Cap
$11.3B
Pitch Price
$37.68
Price Target
47.50 (+2%)
Dividend
2.49%
EV/EBITDA
10.25
P/E
14.04
EV/Sales
1.45
Sector
Insurance
Category
value
Old Republic International Corporation: Niche Specialty and Title Insurance Company Growing Book Value, Producing ~$1 Billion in Operating Income, Issuing Special Dividends and Buying Back Stock
ORI: P&C insurer trades at 1.6x book vs peers at 3.1x despite superior metrics: 11.4% avg ROE 2019-24, 89.8% combined ratio, A+ rating, 84 consecutive dividend years. $1B+ TTM pre-tax income at 10x multiple. Conservative reserves, fortress balance sheet with 554% risk-based capital ratio, $679M investment income from A+ portfolio yielding 4.6%. Fair value 2x book suggests significant upside.
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