Counterpoint Mutual Funds LLC Purchases Shares of 49,888 Old Republic International Corporation $ORI

Key Points

• Counterpoint Mutual Funds LLC acquired 49,888 shares of Old Republic International Corporation, valued at approximately $1.9 million, during the second quarter of the year.
• Old Republic International reported an earnings per share (EPS) of $0.83 for the last quarter, surpassing analysts' expectations of $0.79, with revenue up by 10.1% compared to the same quarter last year.
• The company declared a quarterly dividend of $0.29 per share, resulting in an annualized dividend yield of 2.8%.

Counterpoint Mutual Funds LLC purchased a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 49,888 shares of the insurance provider's stock, valued at approximately $1,918,000.

Other hedge funds also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Old Republic International by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock worth $23,143,000 after buying an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Old Republic International by 304.7% during the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider's stock worth $607,000 after buying an additional 11,534 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Old Republic International by 4,738.8% during the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock worth $8,500,000 after buying an additional 212,251 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of 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 buying an additional 100,264 shares during the last quarter. Finally, Merit Financial Group LLC lifted its stake in shares of Old Republic International by 336.1% during the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock worth $980,000 after buying an additional 19,254 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Trading Up 2.8%

Shares of Old Republic International stock opened at $40.94 on Tuesday. The firm has a market capitalization of $10.17 billion, a PE ratio of 14.02 and a beta of 0.78. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm's 50 day moving average is $38.44 and its 200 day moving average is $37.91. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $41.15.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly 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 company had revenue of $2.21 billion for 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%. Old Republic International's revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend 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 39.73%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

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.

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