Old Republic International Corporation $ORI Shares Sold by Insight Wealth Strategies LLC

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 trimmed its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 15.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Kera Capital Partners Inc. acquired a new position in shares of Old Republic International in the 2nd quarter worth approximately $246,000. Voya Investment Management LLC lifted its holdings in shares of Old Republic International by 243.1% in the 1st quarter. Voya Investment Management LLC now owns 451,280 shares of the insurance provider's stock worth $17,699,000 after acquiring an additional 319,756 shares during the last quarter. Invst LLC acquired a new position in shares of Old Republic International in the 1st quarter worth approximately $681,000. Strs Ohio acquired a new position in shares of Old Republic International in the 1st quarter worth approximately $3,145,000. Finally, WBI Investments LLC lifted its holdings in shares of Old Republic International by 11.7% in the 1st quarter. WBI Investments LLC now owns 71,575 shares of the insurance provider's stock worth $2,807,000 after acquiring an additional 7,511 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Trading Down 0.7%

Shares of NYSE:ORI opened at $40.29 on Friday. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $41.15. The company's 50 day moving average is $38.11 and its two-hundred day moving average is $37.82. 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 company has a market cap of $10.01 billion, a PE ratio of 13.80 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS 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 company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International's quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International's dividend payout ratio is currently 39.73%.

Analysts Set New Price Targets

Several equities analysts have recently commented on ORI shares. Piper Sandler upped 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. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average target price of $43.50.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value 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. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Therace Risch bought 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 2nd. The stock was bought at an average cost 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. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase 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.

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