47,254 Shares in Old Republic International Corporation $ORI Acquired by Fideuram Intesa Sanpaolo Private Banking S.P.A.

Key Points

• Fideuram Intesa Sanpaolo Private Banking S.P.A. disclosed a new fourth-quarter position in Old Republic International, buying 47,254 shares valued at about $2.16 million.
• Old Republic International reported Q1 earnings of $0.68 per share, missing Wall Street expectations of $0.79, though revenue came in slightly above estimates at $2.40 billion.
• The company announced a quarterly dividend of $0.315 per share, payable June 15, which works out to an annualized yield of about 3.2%.

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 47,254 shares of the insurance provider's stock, valued at approximately $2,157,000.

Several other hedge funds and other institutional investors have also modified their holdings of ORI. Wilmington Savings Fund Society FSB raised its position in Old Republic International by 28.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider's stock valued at $43,000 after purchasing an additional 222 shares during the last quarter. Signet Financial Management LLC raised its position in Old Republic International by 2.5% in the 4th quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider's stock valued at $500,000 after purchasing an additional 263 shares during the last quarter. waypoint wealth counsel raised its position in Old Republic International by 3.3% in the 4th quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider's stock valued at $383,000 after purchasing an additional 265 shares during the last quarter. Clearstead Trust LLC raised its position in Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock valued at $31,000 after purchasing an additional 288 shares during the last quarter. Finally, Mainsail Asset Management LLC raised its position in Old Republic International by 5.9% in the 4th quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider's stock valued at $246,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Up 0.7%

NYSE ORI opened at $39.85 on Thursday. The stock has a fifty day moving average of $40.11 and a 200-day moving average of $41.99. The stock has a market capitalization of $9.68 billion, a P/E ratio of 10.68 and a beta of 0.63. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period last year, the business posted $0.81 earnings per share. The firm's quarterly revenue was up 6.7% on a year-over-year basis. On average, equities research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.315 per share. The ex-dividend date is Friday, June 5th. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. Old Republic International's payout ratio is presently 33.78%.

Insiders Place Their Bets

In related news, Director John Eric Smith purchased 1,135 shares of the business's stock in a transaction dated Monday, March 2nd. The shares were bought at an average price of $43.10 per share, with a total value of $48,918.50. Following the purchase, the director directly owned 4,276 shares in the company, valued at $184,295.60. This trade represents a 36.13% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the transaction, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

ORI has been the subject of several research analyst reports. Weiss Ratings downgraded Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research report on Friday, March 27th. Zacks Research downgraded Old Republic International from a "hold" rating to a "strong sell" rating in a research report on Wednesday, April 29th. Piper Sandler lifted their price objective on Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $44.00 price objective on Old Republic International in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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