WBI Investments LLC Boosts Stock Holdings in Old Republic International Corporation $ORI

Key Points

• WBI Investments LLC has increased its stake in Old Republic International Corporation (ORI) by 11.7%, acquiring a total of 71,575 shares valued at $2.8 million, following a purchase of an additional 7,511 shares.
• Wall Street analysts have mixed views on ORI, with Piper Sandler raising its price target from $41.00 to $45.00 while maintaining an "overweight" rating, and overall consensus rating on the stock is currently "Buy" with an average price target of $43.50.
• Old Republic International has declared a quarterly dividend of $0.29 per share, reflecting an annualized yield of 2.9%, with a dividend payout ratio of 39.73%.

WBI Investments LLC raised its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 11.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,575 shares of the insurance provider's stock after acquiring an additional 7,511 shares during the period. WBI Investments LLC's holdings in Old Republic International were worth $2,807,000 at the end of the most recent quarter.

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

Insider Activity at Old Republic International

In related news, Director Therace Risch bought 1,500 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director owned 9,625 shares of the company's stock, valued at approximately $384,037.50. The trade was a 18.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of the firm'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 transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at $1,305,772.60. The trade was 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 corporate insiders.

Analysts Set New Price Targets

ORI has been the subject of a number of research reports. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler raised their price target 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $43.50.

Old Republic International Stock Performance

Shares of ORI traded down $0.62 during mid-day trading on Tuesday, hitting $39.26. 263,203 shares of the company traded hands, compared to its average volume of 1,305,137. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $41.15. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 13.45 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The stock has a 50-day moving average price of $38.16 and a two-hundred day moving average price of $37.83.

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

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is presently 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.