Invesco Ltd. Purchases 171,497 Shares of Old Republic International Corporation $ORI

Key Points

• Invesco Ltd. increased its stake in Old Republic International Corporation by 7.3% in Q1, resulting in ownership of approximately 2.52 million shares worth $98.89 million.
• Old Republic International reported an earnings per share (EPS) of $0.83 for the latest quarter, exceeding the consensus estimate of $0.79, with revenue showing a 10.1% year-over-year increase.
• The company declared a quarterly dividend of $0.29 per share, translating to an annualized dividend yield of 3.0% for investors of record.

Invesco Ltd. grew its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 7.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,521,439 shares of the insurance provider's stock after purchasing an additional 171,497 shares during the quarter. Invesco Ltd. owned about 1.02% of Old Republic International worth $98,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ORI. HWG Holdings LP bought a new stake in shares of Old Republic International in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International in the first quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new stake in shares of Old Republic International in the first quarter valued at approximately $34,000. N.E.W. Advisory Services LLC bought a new stake in shares of Old Republic International in the first quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Old Republic International in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Finally, 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 report on Friday, July 25th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $41.50.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction dated 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 transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Old Republic International Stock Up 2.5%

ORI traded up $0.9590 during midday trading on Tuesday, hitting $38.9990. The company had a trading volume of 1,269,956 shares, compared to its average volume of 1,330,635. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $39.84. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 13.36 and a beta of 0.74. The stock's 50 day moving average price is $37.22 and its 200 day moving average price is $37.37.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly 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 firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. On average, 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is currently 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.