Caisse DE Depot ET Placement DU Quebec Invests $5.92 Million in Old Republic International Corporation $ORI

Key Points

• Caisse DE Depot ET Placement DU Quebec has acquired 150,900 shares of Old Republic International Corporation, worth approximately $5.9 million, representing about 0.06% ownership of the company.
• Old Republic International reported $0.83 earnings per share for the last quarter, surpassing estimates, with a year-over-year revenue increase of 10.1%.
• The company announced a quarterly dividend of $0.29 per share, payable on September 15th, which reflects an annualized dividend yield of 2.9%.

Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,900 shares of the insurance provider's stock, valued at approximately $5,918,000. Caisse DE Depot ET Placement DU Quebec owned 0.06% of Old Republic International at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Hamlin Capital Management LLC lifted its position in shares of Old Republic International by 1.6% during the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock worth $203,603,000 after purchasing an additional 79,796 shares in the last quarter. Northern Trust Corp lifted its position in shares of Old Republic International by 11.8% during the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock worth $139,306,000 after purchasing an additional 375,916 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Old Republic International by 3.6% during 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 purchasing an additional 100,264 shares in the last quarter. Invesco Ltd. lifted its position in shares of Old Republic International by 7.3% during the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock worth $98,891,000 after purchasing an additional 171,497 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Old Republic International by 9.7% during the first quarter. Raymond James Financial Inc. now owns 2,032,093 shares of the insurance provider's stock worth $79,699,000 after purchasing an additional 179,254 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Stock Down 0.2%

Old Republic International stock traded down $0.09 during mid-day trading on Tuesday, hitting $39.89. The company had a trading volume of 520,073 shares, compared to its average volume of 1,317,269. The stock has a market cap of $9.91 billion, a price-to-earnings ratio of 13.65 and a beta of 0.78. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $40.32. 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 business has a fifty day moving average of $37.73 and a 200 day moving average of $37.60.

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

Old Republic International Announces Dividend

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

Analysts Set New Price Targets

ORI has been the topic of several research reports. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler increased 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 report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $43.50.

Insider Activity at Old Republic International

In other news, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president directly owned 54,661 shares in the company, valued at approximately $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.