Jefferies Financial Group Inc. Takes Position in Old Republic International Corporation $ORI

Key Points

• Jefferies Financial Group bought a new stake in Old Republic International during the fourth quarter, purchasing 56,798 shares valued at about $2.59 million.
• Old Republic International reported Q1 EPS of $0.68, missing analyst expectations of $0.79, though revenue came in slightly ahead at $2.40 billion and was up 6.7% year over year.
• The company declared a quarterly dividend of $0.315 per share, equal to an annualized yield of about 3.2%; meanwhile, analysts currently rate the stock a Moderate Buy with an average target price of $42.00.

Jefferies Financial Group Inc. purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 56,798 shares of the insurance provider's stock, valued at approximately $2,592,000.

A number of other institutional investors have also recently made changes to their positions in the company. Orca Wealth Management LLC grew its holdings in shares of Old Republic International by 10.6% during the fourth quarter. Orca Wealth Management LLC now owns 169,271 shares of the insurance provider's stock valued at $7,726,000 after buying an additional 16,219 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of Old Republic International by 6,183.1% during the fourth quarter. Global Retirement Partners LLC now owns 13,760 shares of the insurance provider's stock valued at $628,000 after buying an additional 13,541 shares during the last quarter. Mach 1 Financial Group LLC purchased a new stake in shares of Old Republic International during the fourth quarter valued at approximately $209,000. IFP Advisors Inc grew its holdings in shares of Old Republic International by 4.7% during the fourth quarter. IFP Advisors Inc now owns 18,613 shares of the insurance provider's stock valued at $849,000 after buying an additional 834 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in shares of Old Republic International during the fourth quarter valued at approximately $2,157,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Trading Up 0.2%

Shares of ORI stock opened at $39.43 on Wednesday. Old Republic International Corporation has a 12-month low of $35.60 and a 12-month high of $46.76. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm's 50 day moving average is $40.05 and its 200 day moving average is $41.98. The stock has a market capitalization of $9.57 billion, a P/E ratio of 10.57 and a beta of 0.63.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company had revenue of $2.40 billion during the quarter, compared to analysts' expectations of $2.39 billion. During the same quarter in the prior year, the business posted $0.81 EPS. The company's revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.315 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.2%. Old Republic International's dividend payout ratio (DPR) is currently 33.78%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith bought 1,135 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director directly owned 4,276 shares of the company's stock, valued at $184,295.60. The trade was a 36.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Zacks Research cut shares of Old Republic International from a "hold" rating to a "strong sell" rating in a report on Wednesday, April 29th. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a report on Monday, April 27th. Piper Sandler raised their target price on shares of Old Republic International from $38.00 to $40.00 and gave the stock a "neutral" rating in a report on Friday, April 24th. Finally, Weiss Ratings cut shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $42.00.

About Old Republic International

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.