Integrity Alliance LLC. Purchases New Stake in Old Republic International Corporation $ORI

Key Points

• Integrity Alliance LLC acquired 13,661 shares of Old Republic International Corporation, valued at approximately $536,000, indicating growing institutional interest in the firm.
• Old Republic International recently posted quarterly earnings of $0.83 per share, surpassing analyst estimates, with a year-over-year revenue increase of 10.1%.
• The company declared a quarterly dividend of $0.29 per share, which will be paid on September 15th, reflecting a dividend yield of 2.9%.

Integrity Alliance LLC. purchased a new position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 13,661 shares of the insurance provider's stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Old Republic International by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock worth $23,143,000 after acquiring an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Old Republic International by 304.7% during the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider's stock worth $607,000 after acquiring an additional 11,534 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Old Republic International by 4,738.8% during the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock worth $8,500,000 after acquiring an additional 212,251 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Old Republic International by 3.6% during the 1st 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 last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Old Republic International by 336.1% during the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock worth $980,000 after acquiring an additional 19,254 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Performance

Shares of ORI traded up $0.11 during mid-day trading on Thursday, reaching $39.77. The company had a trading volume of 264,788 shares, compared to its average volume of 1,304,330. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $41.15. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $9.88 billion, a P/E ratio of 13.62 and a beta of 0.78. The stock has a 50 day moving average of $38.23 and a two-hundred day moving average of $37.85.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. Old Republic International's dividend payout ratio is currently 39.73%.

Wall Street Analysts Forecast Growth

ORI has been the topic of several research reports. Piper Sandler raised their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Old Republic International has an average rating of "Buy" and an average target price of $43.50.

Insiders Place Their Bets

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 54,661 shares of the company's stock, valued at $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction on Tuesday, September 2nd. The shares were purchased at an average cost of $39.90 per share, with a total value of $59,850.00. Following the acquisition, the director directly owned 9,625 shares of the company's stock, valued at approximately $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is currently owned by company insiders.

About Old Republic International

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.