Merit Financial Group LLC Raises Stake in Old Republic International Co. (NYSE:ORI)

Merit Financial Group LLC boosted its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 336.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,982 shares of the insurance provider's stock after acquiring an additional 19,254 shares during the period. Merit Financial Group LLC's holdings in Old Republic International were worth $980,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC increased its stake in Old Republic International by 1.6% during the 4th quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock valued at $683,000 after purchasing an additional 290 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Old Republic International by 1.6% during the 4th quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider's stock valued at $677,000 after purchasing an additional 295 shares in the last quarter. Ironwood Investment Management LLC increased its stake in Old Republic International by 1.3% during the 4th quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock valued at $850,000 after purchasing an additional 301 shares in the last quarter. SPC Financial Inc. increased its stake in Old Republic International by 1.8% during the 4th quarter. SPC Financial Inc. now owns 18,012 shares of the insurance provider's stock valued at $652,000 after purchasing an additional 312 shares in the last quarter. Finally, Summit Financial LLC increased its stake in Old Republic International by 6.1% during the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock valued at $218,000 after purchasing an additional 347 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $37.48 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a 1-year low of $29.51 and a 1-year high of $39.84. The company has a market capitalization of $9.26 billion, a P/E ratio of 14.25 and a beta of 0.74. The firm's 50 day simple moving average is $37.60 and its two-hundred day simple moving average is $37.11.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend is Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is 47.15%.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the sale, the senior vice president now directly owns 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares of the company's stock, valued at approximately $1,699,294. The trade was a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on ORI shares. Piper Sandler set a $42.00 price objective on shares of Old Republic International in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 price target on shares of Old Republic International and gave the stock an "outperform" rating in a research note on Monday, April 28th.

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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