Kovitz Investment Group Partners LLC Acquires 10,312 Shares of Old Republic International Corporation $ORI

Key Points

• Kovitz Investment Group Partners LLC increased its holdings in Old Republic International Corporation by 83.2%, owning 22,702 shares valued at approximately $890,000 as of its latest SEC filing.
• Old Republic International reported a quarterly earnings per share of $0.83, surpassing analysts' expectations, along with a 10.1% year-over-year revenue increase.
• The company announced a quarterly dividend of $0.29 to be paid on September 15, representing an annual yield of 3.0% with a payout ratio of 39.73%.

Kovitz Investment Group Partners LLC lifted its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 83.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,702 shares of the insurance provider's stock after buying an additional 10,312 shares during the period. Kovitz Investment Group Partners LLC's holdings in Old Republic International were worth $890,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Atria Wealth Solutions Inc. raised its position in Old Republic International by 3.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 314 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Old Republic International by 1.8% in the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock worth $747,000 after buying an additional 340 shares during the last quarter. Penbrook Management LLC grew its stake in shares of Old Republic International by 5.0% in the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock worth $333,000 after buying an additional 400 shares during the last quarter. Deutsche Bank AG grew its stake in shares of Old Republic International by 1.3% in the 1st quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider's stock worth $1,373,000 after buying an additional 433 shares during the last quarter. Finally, NDVR Inc. grew its stake in shares of Old Republic International by 7.6% in the 4th quarter. NDVR Inc. now owns 7,516 shares of the insurance provider's stock worth $272,000 after buying an additional 534 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Stock Performance

Old Republic International stock traded up $0.5170 during trading on Friday, reaching $39.9170. The company had a trading volume of 1,228,701 shares, compared to its average volume of 1,403,902. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm's 50-day simple moving average is $37.42 and its 200 day simple moving average is $37.44. The firm has a market capitalization of $9.92 billion, a price-to-earnings ratio of 13.67 and a beta of 0.74. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $40.20.

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 analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International's payout ratio is currently 39.73%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.10% of the company's stock.

Analysts Set New Price Targets

ORI has been the topic of several recent analyst reports. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Piper Sandler dropped their price target on Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $41.50.

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.