Kera Capital Partners Inc. Makes New Investment in Old Republic International Corporation $ORI

Key Points

• Kera Capital Partners Inc. acquired a stake of 6,390 shares in Old Republic International Corporation, valued at approximately $246,000, as disclosed in their recent 13F filing with the SEC.
• Wall Street analysts have mixed sentiments on ORI, with a recent downgrade from "buy" to "hold" by Wall Street Zen, while Piper Sandler raised the price target to $45 and maintained an "overweight" rating.
• Old Republic International announced a quarterly dividend of $0.29, translating to an annualized dividend of $1.16 and a dividend yield of 2.9%, set to be paid on September 15th.

Kera Capital Partners Inc. acquired a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,390 shares of the insurance provider's stock, valued at approximately $246,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Hamlin Capital Management LLC grew its stake in Old Republic International by 1.6% in the 1st quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock valued at $203,603,000 after acquiring an additional 79,796 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock worth $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Old Republic International by 11.8% during the 1st quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock worth $139,306,000 after purchasing an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Old Republic International by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after purchasing an additional 100,264 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Old Republic International by 7.3% during the 1st quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock worth $98,891,000 after purchasing an additional 171,497 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of 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 report on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $43.50.

Old Republic International Trading Down 0.2%

NYSE ORI traded down $0.07 during mid-day trading on Friday, hitting $39.67. The company's stock had a trading volume of 315,795 shares, compared to its average volume of 1,303,404. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $41.15. The stock's fifty day simple moving average is $38.30 and its two-hundred day simple moving average is $37.86. 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 firm has a market capitalization of $9.86 billion, a P/E ratio of 13.59 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly 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 firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company's revenue was up 10.1% compared to the same quarter last year. Research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were paid a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is currently 39.73%.

Insider Activity

In related news, Director Therace Risch purchased 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was acquired at an average price 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 represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction on Thursday, July 31st. The stock was 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 approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.