Leith Wheeler Investment Counsel Ltd. Sells 180,149 Shares of Old Republic International Corporation $ORI

Key Points

• Leith Wheeler Investment Counsel Ltd. reduced its holding in Old Republic International Corporation by 62.1%, now owning only 109,859 shares worth about $4.2 million after selling 180,149 shares in the second quarter.
• Old Republic International reported a quarterly EPS of $0.83, exceeding expectations, and demonstrated a 10.1% year-over-year revenue increase, with total revenue reaching $2.21 billion.
• The company declared a quarterly dividend of $0.29, translating to an annualized yield of 2.7%, and has a dividend payout ratio of 39.73%.

Leith Wheeler Investment Counsel Ltd. decreased its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 62.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,859 shares of the insurance provider's stock after selling 180,149 shares during the period. Leith Wheeler Investment Counsel Ltd.'s holdings in Old Republic International were worth $4,223,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Mitchell Sinkler & Starr PA increased its position in shares of Old Republic International by 5.9% during the second quarter. Mitchell Sinkler & Starr PA now owns 8,970 shares of the insurance provider's stock worth $345,000 after acquiring an additional 500 shares in the last quarter. CWM LLC increased its position in shares of Old Republic International by 99.8% during the second quarter. CWM LLC now owns 92,979 shares of the insurance provider's stock worth $3,574,000 after acquiring an additional 46,442 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Old Republic International by 3.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 77,051 shares of the insurance provider's stock worth $2,964,000 after acquiring an additional 2,773 shares in the last quarter. Trust Co. of Toledo NA OH bought a new position in Old Republic International in the second quarter valued at $60,000. Finally, Applied Capital LLC FL grew its position in Old Republic International by 9.1% in the second quarter. Applied Capital LLC FL now owns 36,344 shares of the insurance provider's stock valued at $1,397,000 after purchasing an additional 3,041 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Performance

Shares of ORI stock opened at $43.16 on Monday. The stock has a market cap of $10.72 billion, a P/E ratio of 14.78 and a beta of 0.76. 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 company has a fifty day moving average price of $40.16 and a two-hundred day moving average price of $38.39. Old Republic International Corporation has a one year low of $33.00 and a one year high of $44.00.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.7%. Old Republic International's dividend payout ratio (DPR) is currently 39.73%.

Wall Street Analysts Forecast Growth

ORI has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler raised their target price on shares of Old Republic International from $45.00 to $47.00 and gave the company an "overweight" rating in a research report on Monday, October 6th. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and raised their target price for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, Old Republic International presently has an average rating of "Strong Buy" and a consensus target price of $47.00.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction 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 owned 54,661 shares in the company, valued at $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The shares were 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 represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

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.

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