Financiere des Professionnels Fonds d investissement inc. Invests $525,000 in Old Republic International Corporation $ORI

Key Points

• Financiere des Professionnels Fonds d'investissement inc. has acquired $525,000 worth of shares in Old Republic International Corporation, purchasing 13,656 shares in the second quarter.
• Old Republic International recently announced a $0.29 quarterly dividend, which translates to an annualized yield of 2.9%, with a payout ratio of 39.73%.
• Analysts have set a consensus price target of $43.50 for Old Republic International, with Piper Sandler rating it "overweight" and raising the price target from $41.00 to $45.00.

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 13,656 shares of the insurance provider's stock, valued at approximately $525,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Martingale Asset Management L P increased its stake in Old Republic International by 3.4% in the first quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock valued at $323,000 after purchasing an additional 269 shares during the period. Atria Wealth Solutions Inc. boosted its holdings in Old Republic International by 3.6% during the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock worth $355,000 after buying an additional 314 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in Old Republic International by 1.8% during the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock worth $747,000 after buying an additional 340 shares in the last quarter. Penbrook Management LLC lifted its holdings in shares of Old Republic International by 5.0% in the first quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock valued at $333,000 after purchasing an additional 400 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Old Republic International by 1.3% in the first quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider's stock valued at $1,373,000 after purchasing an additional 433 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Stock Up 0.1%

NYSE ORI traded up $0.05 during trading hours on Friday, reaching $39.79. 3,251,507 shares of the company traded hands, compared to its average volume of 1,070,599. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $41.15. 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 $9.89 billion, a PE ratio of 13.63 and a beta of 0.78. The company has a 50 day moving average of $38.36 and a two-hundred day moving average of $37.88.

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

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, September 5th. Old Republic International's dividend payout ratio is 39.73%.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction 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 transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. The trade was 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.

Analyst Ratings Changes

ORI has been the topic of several recent research reports. Piper Sandler upped their price target on shares of Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $43.50.

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.