Pallas Capital Advisors LLC Raises Position in Old Republic International Corporation $ORI

Key Points

• Pallas Capital Advisors LLC has increased its holdings in Old Republic International Corporation by 33.3%, owning 26,515 shares valued at approximately $1,019,000 as of the latest SEC filing.
• Old Republic International reported $0.83 earnings per share in its last quarterly report, exceeding analysts' estimates of $0.79, with a revenue of $2.21 billion.
• The company recently announced a quarterly dividend of $0.29 per share, translating to an annualized dividend of $1.16 and a yield of 2.9%.

Pallas Capital Advisors LLC lifted its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 33.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,515 shares of the insurance provider's stock after purchasing an additional 6,621 shares during the period. Pallas Capital Advisors LLC's holdings in Old Republic International were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in ORI. HWG Holdings LP bought a new position in shares of Old Republic International during the first quarter worth approximately $25,000. 1 North Wealth Services LLC bought a new position in Old Republic International during the 1st quarter worth $29,000. Quarry LP increased its stake in Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after acquiring an additional 731 shares during the period. Alpine Bank Wealth Management bought a new position in Old Republic International during the 1st quarter worth $31,000. Finally, Wayfinding Financial LLC bought a new position in Old Republic International during the 1st quarter worth $34,000. Institutional investors own 70.92% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on ORI. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. 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. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $43.50.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Therace Risch bought 1,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The shares were bought at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the transaction, the director owned 9,625 shares of the company's stock, valued at approximately $384,037.50. This represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

Old Republic International stock traded up $0.05 during trading on Friday, hitting $39.79. The stock had a trading volume of 3,251,507 shares, compared to its average volume of 1,070,599. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $41.15. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The stock's 50 day moving average is $38.36 and its two-hundred day moving average is $37.88. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 13.63 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. The company's revenue was up 10.1% on a year-over-year basis. As a group, analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International's dividend payout ratio is currently 39.73%.

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.