Insight Wealth Strategies LLC Sells 10,721 Shares of Old Republic International Corporation $ORI

Key Points

• Insight Wealth Strategies LLC has reduced its stake in Old Republic International Corporation by 15.5%, holding 58,514 shares worth approximately $2.25 million after the sale.
• The company reported $0.83 EPS, surpassing analysts' expectations of $0.79, and achieved a year-over-year revenue increase of 10.1% to $2.21 billion.
• A quarterly dividend of $0.29 per share will be paid on September 15th, representing a dividend yield of 2.9%.

Insight Wealth Strategies LLC lowered its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 15.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 58,514 shares of the insurance provider's stock after selling 10,721 shares during the quarter. Insight Wealth Strategies LLC's holdings in Old Republic International were worth $2,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Martingale Asset Management L P raised its position in shares of Old Republic International by 3.4% during the first quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock worth $323,000 after acquiring an additional 269 shares during the last quarter. Atria Wealth Solutions Inc. increased its holdings in Old Republic International by 3.6% in the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after purchasing an additional 314 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Old Republic International by 1.8% in the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock valued at $747,000 after purchasing an additional 340 shares during the last quarter. Penbrook Management LLC increased its holdings in Old Republic International by 5.0% in the first quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock valued at $333,000 after purchasing an additional 400 shares during the last quarter. Finally, Deutsche Bank AG increased its holdings in Old Republic International by 1.3% in the first quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider's stock valued at $1,373,000 after purchasing an additional 433 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction 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. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Therace Risch purchased 1,500 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the transaction, the director directly 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 disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Stock Down 0.1%

Shares of ORI stock traded down $0.06 on Friday, hitting $39.68. 377,557 shares of the stock were exchanged, compared to its average volume of 1,303,694. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $9.86 billion, a P/E ratio of 13.58 and a beta of 0.78. The business has a 50-day moving average of $38.30 and a 200 day moving average of $37.86. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $41.15.

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, topping the consensus estimate 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 company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International's quarterly revenue was up 10.1% compared to the same quarter last year. Equities analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.9%. Old Republic International's dividend payout ratio is 39.73%.

Analysts Set New Price Targets

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

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.