Interval Partners LP Has $14.28 Million Stock Position in Old Republic International Corporation $ORI

Key Points

• Interval Partners LP increased its position in Old Republic International by 68.3%, owning 364,045 shares valued at about $14.3 million as of its latest SEC filing.
• Old Republic International announced a quarterly dividend of $0.29 per share, representing an annualized yield of 2.8%, with the payment date set for September 15th.
• Analysts are divided on Old Republic International, with Piper Sandler raising the price target to $45.00, while Wall Street Zen downgraded its rating from "buy" to "hold."

Interval Partners LP lifted its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 68.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 364,045 shares of the insurance provider's stock after acquiring an additional 147,792 shares during the period. Interval Partners LP owned about 0.15% of Old Republic International worth $14,278,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Old Republic International by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock valued at $23,143,000 after acquiring an additional 23,775 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Old Republic International by 304.7% during the first quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider's stock valued at $607,000 after acquiring an additional 11,534 shares during the period. GAMMA Investing LLC raised its holdings in shares of Old Republic International by 4,738.8% during the first quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock valued at $8,500,000 after acquiring an additional 212,251 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Old Republic International by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock valued at $114,453,000 after acquiring an additional 100,264 shares during the period. Finally, Merit Financial Group LLC raised its holdings in shares of Old Republic International by 336.1% during the first quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock valued at $980,000 after acquiring an additional 19,254 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Stock Down 1.7%

NYSE ORI traded down $0.68 during trading on Friday, reaching $40.41. The company's stock had a trading volume of 1,173,846 shares, compared to its average volume of 1,159,473. 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 $10.04 billion, a PE ratio of 13.84 and a beta of 0.78. The business has a 50-day moving average price of $37.94 and a 200-day moving average price of $37.71. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $41.15.

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

Old Republic International Dividend Announcement

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

Insider Buying and Selling at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred 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 owned 35,755 shares of the company's stock, valued at $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ORI. Piper Sandler boosted 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 report on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.