Ritholtz Wealth Management Has $22.23 Million Stake in Old Republic International Corporation $ORI

Key Points

• Ritholtz Wealth Management reduced its stake in Old Republic International Corporation by 1.3% during Q2, owning approximately $22.23 million worth of shares, which represent 0.5% of its portfolio.
• Wall Street analysts have varying views on Old Republic International, with a consensus rating of Strong Buy and a target price increase to $47.00 from multiple firms.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, reflecting an annualized yield of 2.7% and a payout ratio of 39.73%.

Ritholtz Wealth Management reduced its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 1.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 578,220 shares of the insurance provider's stock after selling 7,716 shares during the quarter. Old Republic International accounts for 0.5% of Ritholtz Wealth Management's portfolio, making the stock its 29th largest position. Ritholtz Wealth Management owned approximately 0.23% of Old Republic International worth $22,227,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in shares of Old Republic International by 23.4% in the first quarter. GAMMA Investing LLC now owns 5,526 shares of the insurance provider's stock valued at $217,000 after purchasing an additional 1,047 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock valued at $23,143,000 after buying an additional 23,775 shares during the last quarter. Trust Point Inc. lifted its stake in Old Republic International by 17.8% in the 1st quarter. Trust Point Inc. now owns 8,068 shares of the insurance provider's stock valued at $316,000 after acquiring an additional 1,217 shares in the last quarter. Sagespring Wealth Partners LLC acquired a new position in Old Republic International during the 1st quarter worth approximately $254,000. Finally, Dunhill Financial LLC acquired a new stake in shares of Old Republic International in the first quarter valued at approximately $37,000. Institutional investors own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ORI shares. Piper Sandler increased their target price on shares of Old Republic International from $45.00 to $47.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. 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. Weiss Ratings reaffirmed a "buy (a-)" rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Raymond James Financial raised Old Republic International from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Old Republic International currently has a consensus rating of "Strong Buy" and a consensus price target of $47.00.

Insiders Place Their Bets

In other Old Republic International news, Director Therace Risch bought 1,500 shares of the stock in a transaction dated 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 acquisition, the director owned 9,625 shares of the company's stock, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred 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 completion of the sale, the senior vice president 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. Company insiders own 1.10% of the company's stock.

Old Republic International Price Performance

Shares of NYSE ORI opened at $43.51 on Wednesday. The firm has a market cap of $10.81 billion, a P/E ratio of 14.90 and a beta of 0.76. The business's 50 day moving average is $40.43 and its 200-day moving average is $38.45. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $44.00.

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

Old Republic International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.7%. Old Republic International's payout ratio is currently 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.

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