Bank of New York Mellon Corp Increases Holdings in Old Republic International Corporation (NYSE:ORI)

Bank of New York Mellon Corp grew its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 3.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,918,236 shares of the insurance provider's stock after purchasing an additional 100,264 shares during the period. Bank of New York Mellon Corp owned about 1.18% of Old Republic International worth $114,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Old Republic International in the first quarter worth $25,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International in the first quarter worth $31,000. SBI Securities Co. Ltd. bought a new stake in shares of Old Republic International in the fourth quarter worth $34,000. Wayfinding Financial LLC bought a new stake in shares of Old Republic International in the first quarter worth $34,000. Finally, Dunhill Financial LLC bought a new stake in shares of Old Republic International in the first quarter worth $37,000. Institutional investors own 70.92% of the company's stock.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 10,601 shares of the business's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,336,521.90. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ORI. Piper Sandler set a $42.00 price objective on Old Republic International in a report on Friday, April 25th. Raymond James Financial set a $42.00 price objective on Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday.

Old Republic International Stock Performance

NYSE ORI traded down $0.03 on Friday, hitting $36.60. 1,625,460 shares of the company traded hands, compared to its average volume of 1,216,333. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 14.88 and a beta of 0.73. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.27. The business's 50 day moving average price is $37.66 and its 200-day moving average price is $37.13. Old Republic International Corporation has a 52-week low of $31.36 and a 52-week high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. Old Republic International's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were given a dividend of $0.29 per share. The ex-dividend date was Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.17%. Old Republic International's dividend payout ratio (DPR) is presently 47.15%.

Old Republic International Company 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.