Foster & Motley Inc. Makes New Investment in Old Republic International Corporation $ORI

Key Points

• Foster & Motley purchased 42,532 shares of Old Republic International in the second quarter, valued at approximately $1.74 million. Institutional investors collectively own 70.92% of the company.
• Analyst sentiment remains cautiously positive, with Old Republic carrying a “Moderate Buy” consensus rating and an average price target of $41.50. Recent ratings included a Zacks upgrade to “Hold” and a Piper Sandler price-target reduction to $39.
• Old Republic reported quarterly revenue of $2.50 billion, up 5.2% year over year, but earnings per share of $0.76 missed estimates by $0.03. The company also declared a quarterly dividend of $0.315, representing a 3.0% annualized yield.

Foster & Motley Inc. purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 42,532 shares of the insurance provider's stock, valued at approximately $1,740,000.

Other hedge funds have also bought and sold shares of the company. Trust Co. of Vermont purchased a new stake in shares of Old Republic International during the 2nd quarter worth approximately $205,000. Bank of New York Mellon Corp bought a new stake in shares of Old Republic International in the 2nd quarter worth approximately $491,660,000. Insight Wealth Strategies LLC lifted its stake in Old Republic International by 23.3% in the second quarter. Insight Wealth Strategies LLC now owns 85,627 shares of the insurance provider's stock valued at $3,512,000 after purchasing an additional 16,203 shares during the last quarter. Fiduciary Financial Group LLC lifted its stake in Old Republic International by 7.1% in the second quarter. Fiduciary Financial Group LLC now owns 8,355 shares of the insurance provider's stock valued at $342,000 after purchasing an additional 551 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in Old Republic International by 1.8% during the second quarter. Handelsbanken Fonder AB now owns 60,871 shares of the insurance provider's stock valued at $2,491,000 after purchasing an additional 1,100 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 1,788 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $42.26, for a total transaction of $75,560.88. Following the completion of the transaction, the senior vice president owned 32,261 shares in the company, valued at $1,363,349.86. This represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeffrey Lange sold 14,075 shares of the company's stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the transaction, the senior vice president owned 12,244 shares of the company's stock, valued at $535,797.44. This trade represents a 53.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 28,988 shares of company stock worth $1,268,458. 1.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Old Republic International Stock Down 1.1%

ORI stock opened at $41.92 on Thursday. The company's 50 day moving average is $41.55 and its 200 day moving average is $40.72. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of 9.91 and a beta of 0.58. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38. 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 released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.03). The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The company's revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.81 EPS. Sell-side analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a $0.315 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.26 annualized dividend and a yield of 3.0%. Old Republic International's payout ratio is presently 29.79%.

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. 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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