Voya Investment Management LLC Has $17.70 Million Position 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 filing with the Securities and Exchange Commission (SEC). The fund owned 451,280 shares of the insurance provider's stock after purchasing an additional 319,756 shares during the period. Voya Investment Management LLC owned 0.18% of Old Republic International worth $17,699,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Invst LLC purchased a new position in Old Republic International in the first quarter valued at about $681,000. Strs Ohio acquired a new position in shares of Old Republic International in the 1st quarter valued at $3,145,000. WBI Investments LLC raised its stake in shares of Old Republic International by 11.7% in the 1st quarter. WBI Investments LLC now owns 71,575 shares of the insurance provider's stock valued at $2,807,000 after acquiring an additional 7,511 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Old Republic International by 518.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 14,196 shares of the insurance provider's stock valued at $557,000 after acquiring an additional 11,899 shares during the period. Finally, Integrity Alliance LLC. purchased a new stake in Old Republic International during the 1st quarter worth $536,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Stock Up 0.1%

NYSE:ORI traded up $0.05 during trading hours on Friday, hitting $39.79. 3,251,507 shares of the company traded hands, compared to its average volume of 1,070,599. 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 firm's 50-day simple moving average is $38.36 and its 200-day simple moving average is $37.88. Old Republic International Corporation has a one year low of $33.00 and a one year high of $41.15. The company has a market cap of $9.89 billion, a PE ratio of 13.63 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping 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 company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. The business's revenue for the quarter was up 10.1% on a year-over-year basis. Equities analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International's dividend payout ratio is presently 39.73%.

Analyst Ratings Changes

Several research firms recently issued reports on ORI. Piper Sandler lifted their price target on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wall Street Zen lowered 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 Buy rating, According to MarketBeat, Old Republic International presently has an average rating of "Buy" and an average price target of $43.50.

Insiders Place Their Bets

In related news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Old Republic International Company 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.