Old Republic International Corporation $ORI is AlphaQuest LLC's 2nd Largest Position

Key Points

• AlphaQuest LLC has raised its stake in Old Republic International Corporation by 142.1%, now holding 104,785 shares valued at approximately $4.11 million.
• The company recently reported quarterly earnings of $0.83 EPS, exceeding estimates and reflecting a 10.1% revenue increase year-over-year, amounting to $2.21 billion.
• A quarterly dividend of $0.29 has been declared, representing an annualized yield of 2.9%, with the payout set for September 15th to investors on record by September 5th.

AlphaQuest LLC grew its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 142.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 104,785 shares of the insurance provider's stock after buying an additional 61,501 shares during the period. Old Republic International makes up approximately 0.4% of AlphaQuest LLC's holdings, making the stock its 2nd biggest position. AlphaQuest LLC's holdings in Old Republic International were worth $4,110,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. HWG Holdings LP acquired a new position in shares of Old Republic International in the 1st quarter valued at $25,000. Alpine Bank Wealth Management bought a new position in shares of Old Republic International during the first quarter worth approximately $31,000. Wayfinding Financial LLC bought a new position in Old Republic International in the first quarter valued at approximately $34,000. N.E.W. Advisory Services LLC bought a new stake in shares of Old Republic International during the first quarter worth $35,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Old Republic International during the first quarter worth $36,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Trading Up 1.0%

Shares of ORI traded up $0.42 during midday trading on Wednesday, hitting $40.07. 329,483 shares of the stock were exchanged, compared to its average volume of 1,318,387. The firm has a market cap of $9.95 billion, a P/E ratio of 13.72 and a beta of 0.74. 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 fifty day simple moving average of $37.52 and a 200 day simple moving average of $37.49. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $40.21.

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 for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion for 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 business's quarterly revenue was up 10.1% compared to the same quarter last year. On average, research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

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

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 6,849 shares of the business'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 in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the company's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president directly owned 54,661 shares of the company's stock, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Analyst Ratings Changes

ORI has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $41.50.

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.