Invst LLC Purchases New Position in Old Republic International Corporation $ORI

Key Points

• Invst LLC has acquired a new stake in Old Republic International Corporation, purchasing 17,354 shares valued at approximately $681,000, highlighting the growing interest from institutional investors.
• Brokerages have provided mixed ratings on Old Republic International, with Piper Sandler raising the price target to $45.00, while Wall Street Zen downgraded it to a "hold" rating.
• The company recently announced a quarterly dividend of $0.29 per share, representing an annual yield of 2.9%, indicating a commitment to return value to shareholders.

Invst LLC purchased a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,354 shares of the insurance provider's stock, valued at approximately $681,000.

Several other large investors have also modified their holdings of the company. Strs Ohio acquired a new stake in shares of Old Republic International in the first quarter valued at approximately $3,145,000. WBI Investments LLC raised its stake in shares of Old Republic International by 11.7% during the first quarter. WBI Investments LLC now owns 71,575 shares of the insurance provider's stock worth $2,807,000 after purchasing an additional 7,511 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Old Republic International by 518.0% in the first quarter. Geneos Wealth Management Inc. now owns 14,196 shares of the insurance provider's stock worth $557,000 after acquiring an additional 11,899 shares in the last quarter. Integrity Alliance LLC. purchased a new position in Old Republic International in the first quarter worth $536,000. Finally, Bayforest Capital Ltd raised its position in Old Republic International by 740.5% in the first quarter. Bayforest Capital Ltd now owns 2,925 shares of the insurance provider's stock worth $115,000 after acquiring an additional 2,577 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORI. Piper Sandler raised their price target on Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $43.50.

Old Republic International Stock Performance

Old Republic International stock opened at $40.29 on Friday. The company has a market cap of $10.01 billion, a price-to-earnings ratio of 13.80 and a beta of 0.78. 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 Corporation has a 12 month low of $33.00 and a 12 month high of $41.15. The stock's 50-day moving average is $38.11 and its 200-day moving average is $37.82.

Old Republic International (NYSE:ORI - Get Free Report) last announced its 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. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm's revenue was up 10.1% on a year-over-year basis. Equities analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

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

Insiders Place Their Bets

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 stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Therace Risch acquired 1,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were acquired at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the acquisition, the director directly owned 9,625 shares in the company, valued at $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.10% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Corporation (NYSE:ORI - Free Report).

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.