Vest Financial LLC Has $3.53 Million Position in Old Republic International Corporation $ORI

Key Points

• Vest Financial LLC boosted its stake in Old Republic International by 116.7% in Q4, owning 77,443 shares worth about $3.53 million after adding 41,712 shares.
• Old Republic missed Q1 EPS estimates ($0.68 actual vs. $0.79 expected) while revenue rose 6.7% year-over-year; analysts have an average rating of "Moderate Buy" with a mean target of $42.
• The company raised its quarterly dividend to $0.315 (annualized $1.26, ~3.2% yield), and institutional investors own roughly 70.92% of the stock.

Vest Financial LLC increased its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 116.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 77,443 shares of the insurance provider's stock after buying an additional 41,712 shares during the period. Vest Financial LLC's holdings in Old Republic International were worth $3,534,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ORI. Mitsubishi UFJ Trust & Banking Corp boosted its position in Old Republic International by 261.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,350 shares of the insurance provider's stock worth $11,779,000 after purchasing an additional 200,692 shares during the period. American National Bank & Trust boosted its position in Old Republic International by 80.0% during the third quarter. American National Bank & Trust now owns 45,000 shares of the insurance provider's stock worth $1,911,000 after purchasing an additional 20,000 shares during the period. Thrivent Financial for Lutherans boosted its position in Old Republic International by 2,840.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider's stock worth $166,763,000 after purchasing an additional 3,793,085 shares during the period. Bank of New York Mellon Corp boosted its position in Old Republic International by 19.1% during the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider's stock worth $152,279,000 after purchasing an additional 575,778 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its position in Old Republic International by 8.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 708,917 shares of the insurance provider's stock worth $30,159,000 after purchasing an additional 57,728 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ORI. Zacks Research raised Old Republic International from a "strong sell" rating to a "hold" rating in a report on Monday, March 23rd. Piper Sandler lifted their price target on Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a report on Monday. Finally, Weiss Ratings lowered shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Old Republic International has an average rating of "Moderate Buy" and an average target price of $42.00.

Old Republic International Price Performance

Shares of ORI stock opened at $39.70 on Thursday. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 10.64 and a beta of 0.72. The stock has a 50-day moving average price of $40.81 and a 200 day moving average price of $42.14. The company has a quick ratio of 0.27, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the firm posted $0.81 earnings per share. Old Republic International's revenue for the quarter was up 6.7% compared to the same quarter last year. Research analysts expect that Old Republic International Corporation will post 3.2 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. This is an increase from Old Republic International's previous quarterly dividend of $0.29. Old Republic International's dividend payout ratio (DPR) is 33.78%.

Insider Activity at Old Republic International

In other Old Republic International news, Director John Eric Smith purchased 1,135 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, with a total value of $48,918.50. Following the purchase, the director directly owned 4,276 shares of the company's stock, valued at $184,295.60. The trade was a 36.13% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 5,526 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the transaction, the senior vice president directly owned 27,875 shares of the company's stock, valued at $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.32% of the stock is owned by company insiders.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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