Voya Investment Management LLC Increases Stock Holdings in Old Republic International Corporation $ORI

Key Points

• Voya Investment Management LLC increased its stake in Old Republic International by 243.1%, holding 451,280 shares valued at approximately $17.7 million.
• Old Republic International reported a quarterly earnings per share of $0.83, exceeding analysts' expectations, and experienced a 10.1% year-over-year revenue increase.
• The company declared a quarterly dividend of $0.29 per share, yielding 2.9%, with a payout ratio of 39.73%.

Voya Investment Management LLC lifted its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 243.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 451,280 shares of the insurance provider's stock after buying an additional 319,756 shares during the quarter. Voya Investment Management LLC owned 0.18% of Old Republic International worth $17,699,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. HWG Holdings LP purchased a new stake in shares of Old Republic International during the 1st quarter valued at about $25,000. 1 North Wealth Services LLC acquired a new stake in Old Republic International during the 1st quarter valued at approximately $29,000. Quarry LP grew its stake in 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 purchasing an additional 731 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Old Republic International during the 1st quarter valued at approximately $31,000. Finally, Wayfinding Financial LLC acquired a new stake in Old Republic International during the 1st quarter valued at approximately $34,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of ORI stock opened at $39.88 on Tuesday. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $41.15. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 13.66 and a beta of 0.78. The stock's fifty day simple moving average is $38.16 and its 200-day simple moving average is $37.83.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results 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. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. The company's quarterly revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International's payout ratio is currently 39.73%.

Insider Buying and Selling at Old Republic International

In other news, Director Therace Risch bought 1,500 shares of the stock in a transaction on Tuesday, September 2nd. The shares were purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares of the company's stock, valued at $384,037.50. This trade represents a 18.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 completion of the transaction, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Piper Sandler raised their price objective on Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a research note on Tuesday, September 2nd. Wall Street Zen lowered 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, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $43.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.