Cyndeo Wealth Partners LLC Buys 10,568 Shares of Old Republic International Corporation $ORI

Key Points

• Cyndeo Wealth Partners LLC increased its stake in Old Republic International by 5.2%, acquiring an additional 10,568 shares, bringing its total ownership to 215,603 shares valued at approximately $8.29 million.
• Analysts have set a consensus price target of $47.00 for Old Republic International, with Raymond James upgrading the stock to a "strong-buy" rating and raising their target from $43.00 to $47.00.
• The company recently declared a quarterly dividend of $0.29, which translates to an annualized dividend of $1.16, yielding 2.7% with a payout ratio of 39.73%.

Cyndeo Wealth Partners LLC lifted its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 215,603 shares of the insurance provider's stock after purchasing an additional 10,568 shares during the quarter. Cyndeo Wealth Partners LLC owned 0.09% of Old Republic International worth $8,288,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HWG Holdings LP bought a new stake in shares of Old Republic International during the 1st quarter valued at $25,000. 1 North Wealth Services LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $29,000. Quarry LP raised its stake 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 valued at $29,000 after purchasing an additional 731 shares during the period. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International during the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $34,000. 70.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ORI has been the subject of several recent analyst reports. Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Piper Sandler boosted their target price on Old Republic International from $45.00 to $47.00 and gave the stock an "overweight" rating in a research report on Monday. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, Weiss Ratings restated a "buy (a-)" rating on shares of Old Republic International in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Buy" and a consensus price target of $47.00.

Insider Transactions at Old Republic International

In other news, Director Therace Risch acquired 1,500 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was purchased at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the acquisition, the director owned 9,625 shares of the company's stock, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 35,755 shares of the company's stock, valued at $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Old Republic International Price Performance

ORI opened at $43.07 on Friday. The stock has a 50-day moving average price of $40.02 and a 200-day moving average price of $38.36. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $44.00. 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 stock has a market capitalization of $10.70 billion, a P/E ratio of 14.75 and a beta of 0.76.

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

Old Republic International Dividend Announcement

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

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