Piper Sandler Turns Cautious on Old Republic (ORI) After Q4 Results

Old Republic International Corporation (NYSE:ORI) is included among the Best Low Risk Stocks for a Retirement Stock Portfolio.

Piper Sandler Turns Cautious on Old Republic (ORI) After Q4 Results

On January 22, Piper Sandler downgraded Old Republic International Corporation (NYSE:ORI) to Neutral from Overweight. The firm also cut its price target to $38 from $51, following the company’s fourth-quarter earnings report. As previously reported, the firm said it generally steers investors away from companies facing loss cost reserve or loss trend issues. It added that it is “less optimistic” about Old Republic’s specialty underwriting business, pointing to ongoing challenges tied to commercial auto loss cost inflation.

Old Republic released its Q4 2025 results the same day, reporting consolidated pretax operating income of $236 million, down from $285 million a year earlier. The consolidated combined ratio also worsened, coming in at 96% compared with 92.7% previously. President, CEO, and Director Craig Smiddy said full-year pretax operating income totaled $1 billion, with a consolidated combined ratio of 94.7%. He also highlighted a 22% increase in book value per share, including dividends, crediting strong operating earnings, higher investment valuations, and disciplined capital management.

In the title segment, premium and fee revenue reached $789 million for the quarter, up 12% from the same period last year.

Old Republic International Corporation (NYSE:ORI) is a specialty insurer with operations spanning property and casualty insurance as well as title insurance.

While we acknowledge the potential of ORI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than ORI and that has a 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 15 Best S&P 500 Dividend Stocks to Buy in 2026 and 12 Most Profitable Dividend Stocks to Buy in 2026

Disclosure: None.