Nuveen LLC Takes Position in Old Republic International Corporation $ORI

Key Points

• Nuveen LLC acquired 812,488 shares of Old Republic International (NYSE: ORI), valued at approximately $31.9 million, representing 0.33% ownership as of the last quarter.
• Old Republic International reported $0.83 earnings per share for the last quarter, exceeding analysts' expectations of $0.79, with revenues of $2.21 billion indicating a 10.1% year-over-year increase.
• The company declared a quarterly dividend of $0.29 per share, with a dividend yield of 3.0%, scheduled to be paid on September 15th to stockholders of record.

Nuveen LLC acquired a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 812,488 shares of the insurance provider's stock, valued at approximately $31,866,000. Nuveen LLC owned about 0.33% of Old Republic International at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after purchasing an additional 400,384 shares during the last quarter. Bank of New York Mellon Corp increased 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 buying an additional 100,264 shares during the period. Invesco Ltd. increased 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 buying an additional 171,497 shares during the period. AQR Capital Management LLC grew its holdings in Old Republic International by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after purchasing an additional 49,160 shares during the period. Finally, LSV Asset Management increased its stake in Old Republic International by 12.9% in the first quarter. LSV Asset Management now owns 1,880,341 shares of the insurance provider's stock valued at $73,747,000 after purchasing an additional 214,634 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

Analyst Upgrades and Downgrades

ORI has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Piper Sandler lowered their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $41.50.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the firm's stock in a transaction 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 sale, the senior vice president owned 35,755 shares of the company's stock, valued at $1,305,772.60. This trade represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Old Republic International Price Performance

ORI stock traded up $0.9590 during midday trading on Tuesday, reaching $38.9990. The company had a trading volume of 1,269,956 shares, compared to its average volume of 1,503,601. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $39.84. The company has a market capitalization of $9.69 billion, a P/E ratio of 13.36 and a beta of 0.74. The firm has a 50-day moving average price of $37.27 and a 200-day moving average price of $37.38.

Old Republic International (NYSE:ORI - Get Free Report) last announced 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 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 analysts' expectations of $2.18 billion. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International's dividend payout ratio is 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.