Empowered Funds LLC Makes New $1.05 Million Investment in Old Republic International Corporation $ORI

Key Points

• Empowered Funds LLC acquired 26,413 shares of Old Republic International valued at approximately $1.05 million, while institutional investors collectively own 70.92% of the company.
• Old Republic reported quarterly EPS of $0.76, missing estimates of $0.79, although revenue rose 5.2% year over year to $2.50 billion.
• Analysts maintain a consensus “Moderate Buy” rating with a $41.50 target price; the company also pays a $0.315 quarterly dividend, equivalent to a 2.9% yield.

Empowered Funds LLC bought a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 26,413 shares of the insurance provider's stock, valued at approximately $1,054,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at approximately $26,000. Torren Management LLC acquired a new position in shares of Old Republic International during the fourth quarter worth approximately $27,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Old Republic International during the fourth quarter worth approximately $27,000. JPL Wealth Management LLC bought a new position in Old Republic International in the 3rd quarter worth approximately $27,000. Finally, Quest 10 Wealth Builders Inc. bought a new position in Old Republic International in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Insider Buying and Selling

In related news, SVP Jeffrey Lange sold 14,075 shares of the stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president directly owned 12,244 shares of the company's stock, valued at $535,797.44. This represents a 53.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 13,125 shares of the firm's stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total value of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares of the company's stock, valued at approximately $3,613,731.80. This represents a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 40,530 shares of company stock valued at $1,709,568 over the last three months. Company insiders own 1.32% of the company's stock.

Analyst Ratings Changes

ORI has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Zacks Research raised Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. Finally, Piper Sandler reduced their price objective on shares of Old Republic International from $40.00 to $39.00 and set a "neutral" rating for the company in a report on Friday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Old Republic International presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.50.

Old Republic International Stock Performance

ORI opened at $43.05 on Friday. The business has a 50 day moving average price of $40.76 and a two-hundred day moving average price of $40.59. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.30 and a quick ratio of 0.23. The company has a market capitalization of $10.39 billion, a price-to-earnings ratio of 10.18 and a beta of 0.58. Old Republic International Corporation has a 1-year low of $36.65 and a 1-year high of $46.76.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business posted $0.81 earnings per share. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is currently 29.79%.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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