Old Republic International Corporation $ORI Shares Acquired by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Old Republic International Corporation by 7.6% during the first quarter, owning approximately 1.53 million shares valued at $60.16 million.
• The company recently reported a quarterly earnings beat with $0.83 earnings per share, surpassing estimates, and indicated a revenue increase of 10.1% year-over-year.
• Old Republic International announced a quarterly dividend of $0.29 per share, resulting in a 2.9% yield for investors.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 7.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,533,958 shares of the insurance provider's stock after purchasing an additional 108,711 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.62% of Old Republic International worth $60,162,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new stake in Old Republic International during the first quarter worth approximately $25,000. 1 North Wealth Services LLC acquired a new stake in Old Republic International during the first quarter worth approximately $29,000. Quarry LP raised its holdings in Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after purchasing an additional 731 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Old Republic International during the first quarter worth approximately $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Old Republic International during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler raised their price objective on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average 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 business's 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Therace Risch bought 1,500 shares of the firm'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 completion of the transaction, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This represents a 18.46% increase in their position. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

NYSE:ORI opened at $40.29 on Monday. The firm's fifty day moving average price is $38.11 and its 200 day moving average price is $37.82. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $41.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 13.80 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International's revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently disclosed 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 yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is 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.

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