American Century Companies Inc. Has $6.80 Million Position in Old Republic International Corporation $ORI

Key Points

• American Century Companies Inc. increased its stake in Old Republic International Corporation by 5.3% in the first quarter, owning approximately 173,491 shares valued at around $6.8 million.
• Old Republic International recently reported earnings of $0.83 per share, exceeding analysts' estimates of $0.79, with a revenue increase of 10.1% compared to the previous year.
• The company declared a quarterly dividend of $0.29 per share, with a dividend yield of 2.9%, reflecting a payout ratio of 39.73%.

American Century Companies Inc. boosted its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,491 shares of the insurance provider's stock after buying an additional 8,731 shares during the quarter. American Century Companies Inc. owned approximately 0.07% of Old Republic International worth $6,804,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in ORI. Hamlin Capital Management LLC raised its holdings in Old Republic International by 1.6% during the 1st 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 during the last quarter. Northern Trust Corp raised its holdings in Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 during the last quarter. Invesco Ltd. raised its holdings in Old Republic International by 7.3% during the 1st 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 during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Old Republic International by 2.7% during the 4th 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 last quarter. Institutional investors own 70.92% of the company's stock.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International 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 completion of the sale, the senior vice president owned 35,755 shares in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction 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 completion of the sale, the executive vice president owned 54,661 shares of the company's stock, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Trading Up 0.1%

Shares of NYSE:ORI traded up $0.04 during mid-day trading on Tuesday, hitting $40.01. The company had a trading volume of 1,036,940 shares, compared to its average volume of 1,175,792. The firm has a fifty day moving average price of $37.77 and a 200 day moving average price of $37.62. The company has a market capitalization of $9.94 billion, a PE ratio of 13.70 and a beta of 0.78. 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 one year low of $33.00 and a one year high of $40.32.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $2.21 billion during 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%. The company's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business 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 is Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International's payout ratio is currently 39.73%.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ORI shares. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler raised their price target on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $43.50.

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.