Callan Family Office LLC Grows Stake in Old Republic International Corporation $ORI

Key Points

• Callan Family Office LLC increased its stake in Old Republic International Corporation by 226.3%, acquiring a total of 16,849 shares valued at $648,000 by the end of the second quarter.
• Analysts have raised their price targets for Old Republic International, with Raymond James upgrading it to a "strong-buy" and setting a new target price of $47.00.
• The company recently declared a quarterly dividend of $0.29 per share, resulting in an annualized dividend yield of 2.7%.

Callan Family Office LLC grew its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 226.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,849 shares of the insurance provider's stock after purchasing an additional 11,685 shares during the period. Callan Family Office LLC's holdings in Old Republic International were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ORI. HWG Holdings LP purchased a new position in shares of Old Republic International during the 1st quarter valued at $25,000. Quarry LP lifted its holdings in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after acquiring an additional 731 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in shares of Old Republic International during the 1st quarter worth $29,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International during the 1st quarter worth $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International during the 1st quarter worth $34,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the transaction, the director directly owned 9,625 shares of the company's stock, valued at approximately $384,037.50. This trade represents a 18.46% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and lifted their price objective for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Piper Sandler lifted their price objective on shares of Old Republic International from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Old Republic International in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to MarketBeat.com, Old Republic International presently has a consensus rating of "Strong Buy" and a consensus price target of $47.00.

Old Republic International Stock Performance

Old Republic International stock opened at $42.97 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.68 billion, a PE ratio of 14.72 and a beta of 0.76. The firm has a fifty day simple moving average of $40.30 and a two-hundred day simple moving average of $38.41. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00.

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. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. Old Republic International's quarterly 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 year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. Old Republic International's payout ratio is presently 39.73%.

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.

Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Corporation (NYSE:ORI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.