American National Bank & Trust Takes Position in Old Republic International Corporation $ORI

Key Points

• American National Bank & Trust acquired a new stake in Old Republic International Corporation, purchasing 25,000 shares valued at approximately $961,000 in the second quarter.
• Old Republic International's stock showed a recent rating change, with Wall Street Zen downgrading it from "buy" to "hold", while Raymond James upgraded it to "strong-buy" with a target price increase from $43.00 to $47.00.
• The company reported a quarterly earnings per share of $0.83, exceeding analysts' expectations, and announced a quarterly dividend of $0.29 per share, maintaining a 2.8% yield.

American National Bank & Trust bought a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 25,000 shares of the insurance provider's stock, valued at approximately $961,000.

Several other institutional investors also recently bought and sold shares of ORI. Martingale Asset Management L P boosted its stake in shares of Old Republic International by 3.4% during the first quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock valued at $323,000 after purchasing an additional 269 shares during the period. Atria Wealth Solutions Inc. boosted its position in Old Republic International by 3.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after buying an additional 314 shares during the period. Signet Financial Management LLC boosted its position in Old Republic International by 3.0% during the 2nd quarter. Signet Financial Management LLC now owns 11,135 shares of the insurance provider's stock valued at $428,000 after buying an additional 320 shares during the period. Venturi Wealth Management LLC grew its holdings in Old Republic International by 1.8% in the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock worth $747,000 after acquiring an additional 340 shares during the last quarter. Finally, Penbrook Management LLC increased its position in shares of Old Republic International by 5.0% in the first quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock valued at $333,000 after acquiring an additional 400 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on ORI. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Piper Sandler lifted their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Finally, Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and upped their target price for the company from $43.00 to $47.00 in a report on Monday. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Strong Buy" and a consensus price target of $46.00.

Old Republic International Stock Down 0.3%

NYSE:ORI opened at $41.22 on Friday. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The firm's 50-day moving average price is $38.71 and its 200-day moving average price is $37.98. The company has a market capitalization of $10.24 billion, a PE ratio of 14.11 and a beta of 0.78. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $41.63.

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 for the quarter, topping 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 business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. The company's revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. Old Republic International's payout ratio is presently 39.73%.

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, 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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.

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