Chicago Partners Investment Group LLC Purchases Shares of 10,510 Old Republic International Corporation $ORI

Key Points

• Chicago Partners Investment Group LLC acquired 10,510 shares of Old Republic International Corporation valued at approximately $385,000 in the second quarter of the year.
• Old Republic International reported a Q3 EPS of $0.78, exceeding analyst expectations of $0.73, with revenue of $2.42 billion for the quarter.
• Several research firms have recently upgraded their ratings on Old Republic International, with Piper Sandler raising the price target to $47.00 and maintaining an "overweight" rating.

Chicago Partners Investment Group LLC purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,510 shares of the insurance provider's stock, valued at approximately $385,000.

A number of other institutional investors have also made changes to their positions in ORI. 1 North Wealth Services LLC purchased a new position in shares of Old Republic International in the first quarter valued at approximately $29,000. Quarry LP boosted its stake in shares of Old Republic International by 6,645.5% in the first quarter. Quarry LP now owns 742 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 731 shares during the period. Alpine Bank Wealth Management purchased a new position in shares of Old Republic International in the first quarter valued at approximately $31,000. Wayfinding Financial LLC purchased a new position in shares of Old Republic International in the first quarter valued at approximately $34,000. Finally, Ameritas Advisory Services LLC purchased a new position in shares of Old Republic International in the second quarter valued at approximately $34,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were 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 in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Price Performance

Shares of NYSE ORI opened at $40.73 on Friday. The firm has a market capitalization of $10.12 billion, a P/E ratio of 13.95 and a beta of 0.76. Old Republic International Corporation has a one year low of $33.00 and a one year high of $44.00. The company's fifty day moving average is $40.98 and its two-hundred day moving average is $38.61. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, October 23rd. The insurance provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. Analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors 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 annualized dividend and a dividend yield of 2.8%. Old Republic International's payout ratio is currently 39.73%.

Analyst Ratings Changes

Several research firms have recently commented on ORI. Piper Sandler raised their price objective on shares of Old Republic International from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Weiss Ratings reiterated a "buy (a-)" rating on shares of Old Republic International in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and lifted their price target for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Finally, Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Strong Buy" and a consensus target price of $47.00.

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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