AE Wealth Management LLC Increases Stake in Old Republic International Corporation (NYSE:ORI)

Key Points

• AE Wealth Management LLC increased its holdings in Old Republic International Corporation by 313.8% in the first quarter, owning 31,692 shares now valued at approximately $1.24 million.
• Analysts have set new price targets for Old Republic International, with Piper Sandler lowering it from $42.00 to $41.00, while Raymond James maintains a target of $42.00 with an "outperform" rating.
• Old Republic International recently announced a quarterly dividend of $0.29, offering shareholders an annualized yield of 3.24% with a payout ratio of 39.73%.

AE Wealth Management LLC grew its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 313.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,692 shares of the insurance provider's stock after purchasing an additional 24,033 shares during the quarter. AE Wealth Management LLC's holdings in Old Republic International were worth $1,243,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Venturi Wealth Management LLC raised its stake in Old Republic International by 1.8% in the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock valued at $747,000 after purchasing an additional 340 shares in the last quarter. Summit Financial LLC raised its stake in Old Republic International by 6.1% during the fourth quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock worth $218,000 after acquiring an additional 347 shares in the last quarter. Penbrook Management LLC raised its stake in Old Republic International by 5.0% during the first quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock worth $333,000 after acquiring an additional 400 shares in the last quarter. Advisory Services Network LLC raised its stake in Old Republic International by 4.5% during the fourth quarter. Advisory Services Network LLC now owns 9,452 shares of the insurance provider's stock worth $342,000 after acquiring an additional 404 shares in the last quarter. Finally, Huntington National Bank raised its stake in Old Republic International by 34.8% during the fourth quarter. Huntington National Bank now owns 1,737 shares of the insurance provider's stock worth $63,000 after acquiring an additional 448 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Performance

NYSE:ORI traded up $0.07 during trading on Monday, reaching $35.92. The company's stock had a trading volume of 1,723,151 shares, compared to its average volume of 1,567,341. 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 firm has a market cap of $8.88 billion, a price-to-earnings ratio of 12.30 and a beta of 0.73. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $39.84. The firm has a 50 day moving average of $37.37 and a 200-day moving average of $37.22.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly 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 return on equity of 20.95% and a net margin of 10.31%. 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. Research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a $0.29 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.23%. Old Republic International's dividend payout ratio is currently 39.73%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.10% of the stock is currently owned by corporate 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.