Wealthstar Advisors LLC Acquires 6,996 Shares of Old Republic International Corporation $ORI

Key Points

• Wealthstar Advisors LLC increased its stake in Old Republic International Corporation by 83.8%, acquiring an additional 6,996 shares, bringing its total holdings to 15,340 shares valued at approximately $590,000.
• Old Republic International reported a quarterly EPS of $0.83, exceeding analyst expectations of $0.79, with revenue of $2.21 billion, representing a 10.1% year-over-year increase.
• In recent weeks, various research firms have enhanced their ratings on Old Republic International, with Raymond James Financial upgrading it to a "strong-buy" and adjusting the price target to $47.00.

Wealthstar Advisors LLC lifted its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 83.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,340 shares of the insurance provider's stock after purchasing an additional 6,996 shares during the quarter. Wealthstar Advisors LLC's holdings in Old Republic International were worth $590,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Hamlin Capital Management LLC increased its holdings in Old Republic International by 1.6% during the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock worth $203,603,000 after buying an additional 79,796 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock valued at $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Old Republic International by 11.8% in the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider's stock valued at $139,306,000 after purchasing an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock valued at $114,453,000 after purchasing an additional 100,264 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Old Republic International by 7.3% in the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock valued at $98,891,000 after purchasing an additional 171,497 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Down 0.5%

ORI stock opened at $43.07 on Friday. The stock has a market capitalization of $10.70 billion, a P/E ratio of 14.75 and a beta of 0.76. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The firm has a 50-day moving average price of $40.02 and a 200-day moving average price of $38.36.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $2.21 billion during 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 for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. Old Republic International's dividend payout ratio is 39.73%.

Insider Transactions at Old Republic International

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

Analyst Upgrades and Downgrades

Several research firms have commented on ORI. Raymond James Financial upgraded shares of Old Republic International from an "outperform" rating to a "strong-buy" rating and upped their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Piper Sandler boosted 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 report on Monday. Weiss Ratings reissued a "buy (a-)" rating on shares of Old Republic International in a research report on Wednesday. Finally, Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Strong Buy" and an average price target of $47.00.

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.

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