Ieq Capital LLC Buys 89,006 Shares of Old Republic International Corporation $ORI

Key Points

• Ieq Capital LLC increased its stake in Old Republic International by 270.5% in Q1, owning 121,911 shares worth approximately $4.78 million.
• Analysts have downgraded Old Republic International from a "buy" to a "hold" rating, with the consensus target price set at $41.50.
• Old Republic International announced a quarterly dividend of $0.29 per share, representing an annual yield of 2.9%, payable on September 15th.

Ieq Capital LLC raised its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 270.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,911 shares of the insurance provider's stock after purchasing an additional 89,006 shares during the period. Ieq Capital LLC's holdings in Old Republic International were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Hamlin Capital Management LLC raised its position in Old Republic International by 1.6% during the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock valued at $203,603,000 after purchasing an additional 79,796 shares during the period. Northern Trust Corp raised its position in Old Republic International by 11.8% during the first 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 raised its position in Old Republic International by 3.6% during the first 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. Invesco Ltd. raised its position in Old Republic International by 7.3% during the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock valued at $98,891,000 after purchasing an additional 171,497 shares during the period. Finally, Raymond James Financial Inc. raised its position in Old Republic International by 9.7% during the first quarter. Raymond James Financial Inc. now owns 2,032,093 shares of the insurance provider's stock valued at $79,699,000 after purchasing an additional 179,254 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. 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 report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $43.50.

Old Republic International Stock Up 1.3%

NYSE ORI traded up $0.51 on Thursday, reaching $40.87. 177,787 shares of the stock traded hands, compared to its average volume of 1,312,760. 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 company has a fifty day moving average price of $37.83 and a 200-day moving average price of $37.64. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 13.96 and a beta of 0.78. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $40.75.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results 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. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

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

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction on 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 transaction, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.