Russell Investments Group Ltd. Purchases 14,167 Shares of Old Republic International Corporation $ORI

Key Points

• Russell Investments Group Ltd. increased its stake in Old Republic International Corporation by 19.0% during the first quarter, owning 88,747 shares valued at $3,480,000.
• Old Republic International's stock recently reported a 1.3% increase, with a current market value of approximately $9.92 billion and a P/E ratio of 13.67.
• The company has declared a quarterly dividend of $0.29, representing an annualized yield of 2.9% and a payout ratio of 39.73%.

Russell Investments Group Ltd. increased its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 19.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,747 shares of the insurance provider's stock after purchasing an additional 14,167 shares during the period. Russell Investments Group Ltd.'s holdings in Old Republic International were worth $3,480,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. HWG Holdings LP bought a new stake in shares of Old Republic International during the first quarter valued at approximately $25,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International during the first quarter valued at approximately $31,000. Wayfinding Financial LLC bought a new stake in shares of Old Republic International during 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 valued at approximately $35,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of Old Republic International during the first quarter valued at approximately $36,000. 70.92% of the stock is currently owned by institutional investors.

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, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Old Republic International Stock Up 0.6%

Shares of NYSE:ORI traded up $0.23 during mid-day trading on Friday, reaching $39.97. 963,420 shares of the stock were exchanged, compared to its average volume of 1,248,050. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.93 billion, a P/E ratio of 13.69 and a beta of 0.74. Old Republic International Corporation has a one year low of $33.00 and a one year high of $40.21. The stock's 50 day simple moving average is $37.69 and its 200-day simple moving average is $37.56.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating 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 firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. The firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors 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 annualized dividend and a yield of 2.9%. Old Republic International's dividend payout ratio is 39.73%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler decreased their price target on Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price 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.