Hamlin Capital Management LLC Acquires 15,920 Shares of Old Republic International Corporation $ORI

Key Points

• Hamlin Capital Management LLC increased its stake in Old Republic International Corporation by purchasing an additional 15,920 shares, bringing its total holdings to 5,207,228 shares, which represents 4.6% of its investment portfolio.
• Analysts have mixed ratings on Old Republic International, with Weiss Ratings giving a "buy" rating, while Raymond James upgraded its rating to "strong-buy" and increased its target price to $47.00.
• Old Republic International recently declared a quarterly dividend of $0.29 per share, reflecting an annualized dividend yield of 2.8% and a payout ratio of 39.73%.

Hamlin Capital Management LLC boosted its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 0.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,207,228 shares of the insurance provider's stock after purchasing an additional 15,920 shares during the period. Old Republic International accounts for 4.6% of Hamlin Capital Management LLC's investment portfolio, making the stock its 7th biggest holding. Hamlin Capital Management LLC owned 2.11% of Old Republic International worth $200,166,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Martingale Asset Management L P raised its stake in Old Republic International by 3.4% during the 1st 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. Janney Montgomery Scott LLC raised its stake in Old Republic International by 0.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 91,880 shares of the insurance provider's stock valued at $3,532,000 after purchasing an additional 300 shares during the period. Atria Wealth Solutions Inc. raised its stake in Old Republic International by 3.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 314 shares during the period. Signet Financial Management LLC raised its stake in Old Republic International by 3.0% during the 2nd quarter. Signet Financial Management LLC now owns 11,135 shares of the insurance provider's stock valued at $428,000 after purchasing an additional 320 shares during the period. Finally, Venturi Wealth Management LLC raised its stake in Old Republic International by 1.8% during the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock valued at $747,000 after purchasing an additional 340 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on ORI shares. Weiss Ratings reissued a "buy (a-)" rating on shares of Old Republic International in a research note on Wednesday, October 8th. Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and boosted their target price for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, Piper Sandler boosted their target price on shares of Old Republic International from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and an average price target of $47.00.

Insider Buying and Selling

In other Old Republic International news, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction that occurred on 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 completion of the acquisition, the director owned 9,625 shares of the company's stock, valued at approximately $384,037.50. This trade represents a 18.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president owned 35,755 shares of the company's stock, valued at $1,305,772.60. This represents a 16.08% 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 corporate insiders.

Old Republic International Trading Up 1.4%

Old Republic International stock opened at $41.48 on Friday. The company's fifty day simple moving average is $40.70 and its 200-day simple moving average is $38.50. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The stock has a market cap of $10.31 billion, a P/E ratio of 14.21 and a beta of 0.76.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate 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 business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. The firm's quarterly revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. Old Republic International's dividend payout ratio is currently 39.73%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.