Wealth Enhancement Advisory Services LLC Acquires 44,165 Shares of Old Republic International Corporation $ORI

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Old Republic International Corporation by 7.5%, now owning 634,244 shares valued at approximately $24 million.
• Analysts have mixed opinions on Old Republic, with Piper Sandler raising their target price from $41.00 to $45.00 and a recent downgrade from Wall Street Zen from "buy" to "hold".
• Old Republic announced a quarterly dividend of $0.29 per share, representing an annualized amount of $1.16 and a yield of 2.9%.

Wealth Enhancement Advisory Services LLC lifted its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 7.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 634,244 shares of the insurance provider's stock after buying an additional 44,165 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.26% of Old Republic International worth $24,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORI. Royal Bank of Canada lifted its stake in shares of Old Republic International by 20.3% in the 4th quarter. Royal Bank of Canada now owns 380,225 shares of the insurance provider's stock worth $13,760,000 after purchasing an additional 64,245 shares during the period. Two Sigma Investments LP increased its position in shares of Old Republic International by 93.1% during the 4th quarter. Two Sigma Investments LP now owns 204,127 shares of the insurance provider's stock worth $7,387,000 after purchasing an additional 98,410 shares during the last quarter. Two Sigma Advisers LP purchased a new stake in Old Republic International during the fourth quarter worth approximately $2,063,000. Squarepoint Ops LLC grew its holdings in Old Republic International by 315.4% in the fourth quarter. Squarepoint Ops LLC now owns 160,430 shares of the insurance provider's stock valued at $5,806,000 after purchasing an additional 121,807 shares during the last quarter. Finally, Vident Advisory LLC lifted its position in Old Republic International by 16.7% during the fourth quarter. Vident Advisory LLC now owns 8,017 shares of the insurance provider's stock worth $290,000 after buying an additional 1,148 shares during the period. Hedge funds and other institutional investors own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler raised their price target on shares of Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a research report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $43.50.

Old Republic International Trading Up 0.1%

NYSE:ORI traded up $0.05 on Friday, reaching $39.79. The stock had a trading volume of 3,251,507 shares, compared to its average volume of 1,171,740. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $41.15. The firm's fifty day moving average is $38.36 and its two-hundred day moving average is $37.88. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 13.63 and a beta of 0.78.

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

Old Republic International Announces Dividend

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

Insider Activity

In related news, Director Therace Risch purchased 1,500 shares of Old Republic International stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the transaction, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the sale, the executive vice president owned 54,661 shares in the company, valued at $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. 1.10% of the stock is currently owned by corporate 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.