Cetera Investment Advisers Boosts Stake in Old Republic International Corporation (NYSE:ORI)

Key Points

• Cetera Investment Advisers increased its holdings in Old Republic International Corporation by 21.7%, owning 125,496 shares valued at approximately $4.9 million.
• Institutional ownership of Old Republic International has reached 70.92%, with notable increases from several advisors, including GAMMA Investing LLC raising its stake by 4,738.8%.
• Old Republic International reported earnings of $0.83 per share for the last quarter, surpassing analysts' expectations and showing a 10.1% increase in revenue year-over-year.

Cetera Investment Advisers raised its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 21.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,496 shares of the insurance provider's stock after buying an additional 22,371 shares during the period. Cetera Investment Advisers owned 0.05% of Old Republic International worth $4,922,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC lifted its holdings in Old Republic International by 1.8% during the 1st 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 during the last quarter. Summit Financial LLC increased its position in Old Republic International by 6.1% in the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock valued at $218,000 after acquiring an additional 347 shares in the last quarter. Penbrook Management LLC increased its position in Old Republic International by 5.0% in the 1st 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 in the last quarter. Advisory Services Network LLC increased its position in Old Republic International by 4.5% in the 4th quarter. Advisory Services Network LLC now owns 9,452 shares of the insurance provider's stock valued at $342,000 after acquiring an additional 404 shares in the last quarter. Finally, Huntington National Bank grew its position in shares of Old Republic International by 34.8% during the 4th quarter. Huntington National Bank now owns 1,737 shares of the insurance provider's stock worth $63,000 after buying an additional 448 shares during the period. Institutional investors and hedge funds 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 the company's 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 in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by insiders.

Old Republic International Stock Up 1.8%

Old Republic International stock traded up $0.67 during midday trading on Wednesday, reaching $37.26. The stock had a trading volume of 590,271 shares, compared to its average volume of 1,327,139. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $39.84. The company has a fifty day moving average price of $37.15 and a two-hundred day moving average price of $37.27. The company has a market capitalization of $9.26 billion, a P/E ratio of 12.76 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. The firm's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.16 annualized dividend and a dividend yield of 3.1%. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Analyst Upgrades and Downgrades

ORI has been the subject of a number of analyst reports. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Piper Sandler cut their price target on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th.

Old Republic International 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.