UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Holdings in Old Republic International Corporation $ORI

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 increased its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund 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 0.62% of Old Republic International worth $60,162,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Hamlin Capital Management LLC grew its position in Old Republic International by 1.6% in the 1st quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock valued at $203,603,000 after acquiring an additional 79,796 shares during the last quarter. AQR Capital Management LLC grew its position in Old Republic International by 96.9% in the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock valued at $145,481,000 after acquiring an additional 1,827,180 shares during the last quarter. Northern Trust Corp grew its position in 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 acquiring an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 100,264 shares during the last quarter. Finally, Invesco Ltd. grew its position 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 valued at $98,891,000 after acquiring an additional 171,497 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Up 0.1%

Shares of NYSE ORI traded up $0.05 during mid-day trading on Friday, reaching $39.79. 3,251,507 shares of the company were exchanged, compared to its average volume of 1,070,599. 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 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 Corporation has a 1 year low of $33.00 and a 1 year high of $41.15. The firm has a 50-day moving average of $38.36 and a 200 day moving average of $37.88.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data 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. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is 39.73%.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at approximately $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, the senior vice president owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ORI shares. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler increased their price target on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $43.50.

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.