Invst LLC Acquires Shares of 17,354 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 bought a new position in Old Republic International Corporation (NYSE:ORI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,354 shares of the insurance provider's stock, valued at approximately $681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HWG Holdings LP bought a new stake in shares of Old Republic International in the first quarter worth approximately $25,000. 1 North Wealth Services LLC purchased a new stake in Old Republic International in the first quarter worth approximately $29,000. Quarry LP grew its position in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after purchasing an additional 731 shares during the period. Alpine Bank Wealth Management purchased a new stake in Old Republic International during the 1st quarter valued at $31,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Old Republic International during the 1st quarter valued at $35,000. 70.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Old Republic International news, Director Therace Risch acquired 1,500 shares of the company's stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the purchase, the director owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. The trade was 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 owned by insiders.

Old Republic International Price Performance

Shares of NYSE ORI traded up $0.15 during midday trading on Thursday, reaching $39.81. 281,399 shares of the stock traded hands, compared to its average volume of 1,304,417. The company's 50 day moving average is $38.23 and its 200 day moving average is $37.85. Old Republic International Corporation has a one year low of $33.00 and a one year high of $41.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market capitalization of $9.89 billion, a PE ratio of 13.63 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last released 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 return on equity of 20.95% and a net margin of 10.31%.The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The business's revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The company 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. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Friday, September 5th. Old Republic International's payout ratio is presently 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.