Pallas Capital Advisors LLC Purchases 6,621 Shares of 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 grew its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 33.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hamlin Capital Management LLC boosted its stake in shares of Old Republic International by 1.6% during the 1st quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock worth $203,603,000 after acquiring an additional 79,796 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Old Republic International by 96.9% during the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock valued at $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Northern Trust Corp boosted its position in shares of Old Republic International by 11.8% in the 1st quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock valued at $139,306,000 after purchasing an additional 375,916 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Old Republic International by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock valued at $114,453,000 after purchasing an additional 100,264 shares during the period. Finally, Invesco Ltd. increased its stake in Old Republic International by 7.3% in the 1st quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock worth $98,891,000 after purchasing an additional 171,497 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Stock Up 2.8%

NYSE ORI traded up $1.11 on Monday, reaching $40.94. The stock had a trading volume of 1,256,497 shares, compared to its average volume of 1,171,740. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $41.15. The business has a 50 day moving average price of $38.44 and a 200 day moving average price of $37.91. The company has a market capitalization of $10.17 billion, a price-to-earnings ratio of 14.02 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.Old Republic International's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's payout ratio is currently 39.73%.

Analyst Ratings Changes

A number of research firms have commented on ORI. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Raymond James Financial upgraded shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and upped their price target for the company from $43.00 to $47.00 in a research report on Monday. Finally, Piper Sandler lifted their price objective on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Strong Buy" and a consensus target price of $46.00.

Insider Transactions at Old Republic International

In other Old Republic International news, Director Therace Risch purchased 1,500 shares of the company's stock in a transaction dated 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 purchase, the director directly owned 9,625 shares in the company, valued at $384,037.50. This trade represents a 18.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International 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 directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

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.