Hamlin Capital Management LLC Has $203.60 Million Stock Position in Old Republic International Corporation (NYSE:ORI)

Key Points

• Hamlin Capital Management LLC increased its stake in Old Republic International Corporation by 1.6% during the first quarter, now owning 5,191,308 shares worth approximately $203.60 million.
• Insider selling was noted as SVP Carolyn Monroe sold 6,849 shares at an average price of $36.52, lowering her ownership by 16.08%.
• Old Republic International announced a quarterly dividend of $0.29 per share, representing a 3.0% annual yield, with a payout ratio of 39.73%.

Hamlin Capital Management LLC boosted its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 1.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,191,308 shares of the insurance provider's stock after acquiring an additional 79,796 shares during the quarter. Old Republic International comprises about 4.9% of Hamlin Capital Management LLC's investment portfolio, making the stock its 3rd biggest position. Hamlin Capital Management LLC owned 2.10% of Old Republic International worth $203,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. HWG Holdings LP purchased a new stake in shares of Old Republic International in the first quarter worth approximately $25,000. Alpine Bank Wealth Management purchased a new position in Old Republic International in the 1st quarter worth about $31,000. N.E.W. Advisory Services LLC purchased a new stake in Old Republic International in the 1st quarter valued at about $35,000. Wayfinding Financial LLC purchased a new position in shares of Old Republic International during the first quarter worth approximately $34,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Old Republic International during the first quarter valued at approximately $36,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International 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 completion of the sale, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ORI. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Piper Sandler lowered their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Finally, Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th.

Old Republic International Price Performance

ORI opened at $38.69 on Thursday. The firm has a market capitalization of $9.61 billion, a PE ratio of 13.25 and a beta of 0.74. The business's 50-day moving average is $37.14 and its two-hundred day moving average is $37.33. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $39.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25.

Old Republic International (NYSE:ORI - Get Free Report) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International's revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a $0.29 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.0%. Old Republic International's dividend payout ratio (DPR) is 39.73%.

Old Republic International 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.

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