10,600 Shares in Old Republic International Corporation $ORI Bought by Atticus Wealth Management LLC

Key Points

• Atticus Wealth Management LLC purchased 10,600 shares of Old Republic International Corporation, valued at approximately $407,000, indicating a strong interest in the insurance provider's stock.
• Institutional investors own 70.92% of Old Republic's stock, with several hedge funds increasing their stakes during recent quarters.
• Old Republic International declared a quarterly dividend of $0.29, representing an annualized dividend yield of 2.9%, highlighting the company's commitment to returning value to shareholders.

Atticus Wealth Management LLC acquired a new position in Old Republic International Corporation (NYSE:ORI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,600 shares of the insurance provider's stock, valued at approximately $407,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ORI. Hamlin Capital Management LLC grew its stake in shares of Old Republic International by 1.6% in the 1st quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock worth $203,603,000 after buying an additional 79,796 shares in the last quarter. AQR Capital Management LLC increased its stake in Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock valued at $145,481,000 after purchasing an additional 1,827,180 shares in the last quarter. Northern Trust Corp increased its stake in shares of Old Republic International by 11.8% in the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock worth $139,306,000 after acquiring an additional 375,916 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after acquiring an additional 100,264 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Old Republic International by 7.3% in the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock worth $98,891,000 after acquiring an additional 171,497 shares during the period. Institutional investors own 70.92% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler lifted their price target on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Raymond James Financial upgraded shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the stock from $43.00 to $47.00 in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Old Republic International currently has an average rating of "Strong Buy" and an average price target of $46.00.

Insider Buying and Selling

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the firm's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Old Republic International Stock Up 2.3%

ORI stock traded up $0.92 during mid-day trading on Monday, reaching $40.75. The company had a trading volume of 358,483 shares, compared to its average volume of 1,314,487. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a 50 day simple moving average of $38.36 and a two-hundred day simple moving average of $37.88. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of 13.96 and a beta of 0.78. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $41.15.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International's revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Old Republic International Company Profile

Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. It operates through three segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group Run-off Business.