Wealthstar Advisors LLC Takes Position in Old Republic International Corporation (NYSE:ORI)

Wealthstar Advisors LLC bought a new position in Old Republic International Corporation (NYSE:ORI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 8,344 shares of the insurance provider's stock, valued at approximately $327,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Old Republic International in the fourth quarter valued at about $105,581,000. Raymond James Financial Inc. bought a new stake in shares of Old Republic International in the fourth quarter worth about $67,054,000. Invesco Ltd. increased its holdings in Old Republic International by 26.4% during the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after purchasing an additional 490,788 shares during the period. Northern Trust Corp increased its holdings in Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after purchasing an additional 400,384 shares during the period. Finally, Millennium Management LLC raised its position in Old Republic International by 93.8% during the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock valued at $29,802,000 after purchasing an additional 398,531 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Trading Down 2.2%

ORI stock traded down $0.86 during trading on Wednesday, reaching $37.53. The company had a trading volume of 1,474,822 shares, compared to its average volume of 1,207,457. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.24 and a quick ratio of 0.24. Old Republic International Corporation has a 52 week low of $29.83 and a 52 week high of $39.84. The business has a 50 day moving average of $37.67 and a 200 day moving average of $37.05. The company has a market cap of $9.28 billion, a P/E ratio of 15.26 and a beta of 0.73.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, sell-side analysts forecast 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, June 16th. Investors of record on Friday, June 6th were paid a $0.29 dividend. The ex-dividend date was Friday, June 6th. This represents a $1.16 annualized dividend and a dividend yield of 3.09%. Old Republic International's payout ratio is 47.15%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the sale, the senior vice president owned 35,755 shares in the company, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on ORI shares. Wall Street Zen upgraded Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, June 27th. Piper Sandler set a $42.00 price target on Old Republic International in a research note on Friday, April 25th. Finally, Raymond James Financial set a $42.00 price target on shares of Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th.

About Old Republic International

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.