Wealthstar Advisors LLC acquired a new stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 8,344 shares of the insurance provider's stock, valued at approximately $327,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake 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 acquiring an additional 400,384 shares during the last quarter. Norges Bank bought a new position in Old Republic International during the 4th quarter valued at $105,581,000. Invesco Ltd. boosted its stake 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 acquiring an additional 490,788 shares during the last quarter. AQR Capital Management LLC boosted its stake in Old Republic International by 2.7% during the 4th quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock valued at $68,219,000 after acquiring an additional 49,160 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in Old Republic International during the 4th quarter valued at $67,054,000. 70.92% of the stock is currently owned by institutional investors.
Insider Transactions at Old Republic International
In other news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now directly owns 35,755 shares of the company's stock, valued at $1,336,521.90. This trade represents a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company's stock.
Old Republic International Price Performance
Old Republic International stock traded up $0.31 during trading hours on Friday, hitting $38.13. 2,506,029 shares of the company traded hands, compared to its average volume of 1,204,961. The firm has a market cap of $9.42 billion, a P/E ratio of 15.50 and a beta of 0.74. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27. The firm's 50-day simple moving average is $37.62 and its two-hundred day simple moving average is $37.02. Old Republic International Corporation has a 1-year low of $29.83 and a 1-year high of $39.84.
Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The business's revenue was up 11.4% on a year-over-year basis. As a group, analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.
Old Republic International Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 3.04%. Old Republic International's dividend payout ratio is currently 47.15%.
Analyst Ratings Changes
A number of research firms have commented on ORI. Piper Sandler set a $42.00 price objective on shares of Old Republic International in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday. Finally, Raymond James Financial set a $42.00 price target on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th.
Check Out Our Latest Analysis on Old Republic International
Old Republic International Profile
(
Free Report)
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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