Lecap Asset Management Ltd. Decreases Stock Position in Old Republic International Corporation $ORI

Key Points

• Lecap Asset Management Ltd. has decreased its stock position in Old Republic International by 33.5%, reducing its holdings to 21,674 shares worth $833,000.
• Institutional investors have shown mixed movements, with GAMMA Investing LLC significantly increasing its stake by 4,738.8% in the same quarter.
• The company recently announced a $0.29 quarterly dividend, resulting in a 2.7% yield for shareholders and a dividend payout ratio of approximately 39.73%.

Lecap Asset Management Ltd. cut its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 33.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,674 shares of the insurance provider's stock after selling 10,934 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Old Republic International were worth $833,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of ORI. GAMMA Investing LLC raised its stake in shares of Old Republic International by 4,738.8% in the first quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock worth $8,500,000 after purchasing an additional 212,251 shares during the last quarter. Merit Financial Group LLC raised its stake in shares of Old Republic International by 336.1% in the first quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock worth $980,000 after purchasing an additional 19,254 shares during the last quarter. Curat Global LLC purchased a new position in shares of Old Republic International in the first quarter worth about $196,000. Sivia Capital Partners LLC purchased a new position in shares of Old Republic International in the first quarter worth about $250,000. Finally, UMB Bank n.a. raised its stake in shares of Old Republic International by 7.4% in the first quarter. UMB Bank n.a. now owns 18,505 shares of the insurance provider's stock worth $726,000 after purchasing an additional 1,276 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Up 0.3%

Old Republic International stock opened at $42.90 on Friday. The firm has a market cap of $10.66 billion, a price-to-earnings ratio of 14.69 and a beta of 0.76. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $42.93. The business's 50-day moving average price is $39.30 and its 200 day moving average price is $38.17. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping 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 return on equity of 20.95% and a net margin of 10.31%.The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side 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 was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, Director Therace Risch acquired 1,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the acquisition, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ORI has been the subject of several research analyst reports. Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and raised their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Piper Sandler raised their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. One analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Old Republic International currently has a consensus rating of "Strong Buy" and an average target price of $46.00.

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.

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