Lindenwold Advisors INC Acquires Shares of 15,177 Old Republic International Corporation (NYSE:ORI)

Key Points

• Lindenwold Advisors INC acquired 15,177 shares of Old Republic International Corporation, valued at approximately $595,000, during the first quarter, as per their 13F filing.
• Old Republic reported a quarterly earnings of $0.83 EPS, exceeding analyst expectations, with revenue rising by 10.1% year-over-year to $2.21 billion.
• The company declared a quarterly dividend of $0.29 per share, translating to a 3.2% dividend yield with a payout ratio of 39.73%.

Lindenwold Advisors INC bought a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,177 shares of the insurance provider's stock, valued at approximately $595,000.

Several other hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased 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 purchasing an additional 23,775 shares in the last quarter. Farther Finance Advisors LLC increased 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 purchasing an additional 11,534 shares in the last quarter. GAMMA Investing LLC increased 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 purchasing an additional 212,251 shares in the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 100,264 shares in the last quarter. Finally, Merit Financial Group LLC increased 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 purchasing an additional 19,254 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Piper Sandler lowered their target price on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Raymond James Financial set a $42.00 price target on shares of Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th.

Old Republic International Stock Up 0.6%

Shares of NYSE:ORI traded up $0.24 during midday trading on Tuesday, hitting $36.59. 482,898 shares of the company's stock traded hands, compared to its average volume of 1,327,326. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.24 and a current ratio of 0.63. The company has a market cap of $9.04 billion, a PE ratio of 12.52 and a beta of 0.74. The firm's fifty day moving average price is $37.20 and its two-hundred day moving average price is $37.27. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $39.84.

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

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 6th. Old Republic International's payout ratio is presently 39.73%.

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.