Sequoia Financial Advisors LLC Takes Position in Old Republic International Corporation $ORI

Key Points

• Sequoia Financial Advisors LLC has acquired 27,911 shares of Old Republic International Corporation, valued at approximately $1,073,000.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, resulting in an annualized yield of 2.8%.
• Analysts have upgraded Old Republic's rating to a "strong-buy" with a target price increased to $47.00.

Sequoia Financial Advisors LLC acquired a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 27,911 shares of the insurance provider's stock, valued at approximately $1,073,000.

A number of other hedge funds have also recently modified their holdings of ORI. HWG Holdings LP bought a new stake in shares of Old Republic International during the 1st quarter valued at $25,000. Quarry LP grew its position in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 731 shares during the period. 1 North Wealth Services LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $29,000. Alpine Bank Wealth Management bought a new stake in shares of Old Republic International during the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $34,000. Institutional investors own 70.92% of the company's stock.

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction dated Tuesday, September 2nd. The stock was acquired at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the acquisition, the director 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. Corporate insiders own 1.10% of the company's stock.

Old Republic International Stock Up 1.4%

Shares of ORI stock opened at $41.48 on Friday. The stock has a market cap of $10.31 billion, a P/E ratio of 14.21 and a beta of 0.76. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $44.00. 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's fifty day simple moving average is $40.70 and its two-hundred day simple moving average is $38.50.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business's revenue was up 10.1% on a year-over-year basis. Analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.8%. Old Republic International's payout ratio is presently 39.73%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ORI. Raymond James Financial raised shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and boosted their price objective for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Piper Sandler lifted their target price on shares of Old Republic International from $45.00 to $47.00 and gave the company an "overweight" rating in a research note on Monday, October 6th. Weiss Ratings restated a "buy (a-)" rating on shares of Old Republic International in a research note on Wednesday, October 8th. Finally, Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy" and an average price target of $47.00.

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.

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