Woodmont Investment Counsel LLC Buys 10,311 Shares of Old Republic International Corporation $ORI

Key Points

• Woodmont Investment Counsel LLC increased its stake in Old Republic International Corporation to a total of 139,396 shares after acquiring an additional 10,311 shares, representing an 8.0% increase in its holdings.
• Analysts have a consensus rating of “Strong Buy” for Old Republic International, with a few recent upgrades in target prices, including a rise from $43.00 to $47.00 by Raymond James Financial.
• Old Republic International recently declared a quarterly dividend of $0.29 per share, resulting in an annualized dividend yield of 2.7%.

Woodmont Investment Counsel LLC increased its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 8.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 139,396 shares of the insurance provider's stock after acquiring an additional 10,311 shares during the period. Woodmont Investment Counsel LLC owned about 0.06% of Old Republic International worth $5,358,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. HWG Holdings LP purchased a new position in Old Republic International during the 1st quarter valued at about $25,000. 1 North Wealth Services LLC purchased a new position in Old Republic International during the 1st quarter valued at about $29,000. Quarry LP increased its holdings in Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock valued at $29,000 after purchasing an additional 731 shares during the period. Alpine Bank Wealth Management purchased a new position in Old Republic International during the 1st quarter valued at about $31,000. Finally, N.E.W. Advisory Services LLC purchased a new position in Old Republic International during the 1st quarter valued at about $35,000. Institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Weiss Ratings restated a "buy (a-)" rating on shares of Old Republic International in a report on Saturday, September 27th. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler upped their target price on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Finally, Raymond James Financial upgraded Old Republic International from an "outperform" rating to a "strong-buy" rating and upped their target price for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Old Republic International presently has a consensus rating of "Strong Buy" and an average price target of $46.00.

Insider Transactions at Old Republic International

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

Old Republic International Stock Performance

Shares of ORI opened at $43.35 on Monday. 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 business's 50 day moving average price is $39.45 and its 200-day moving average price is $38.22. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $43.56. The stock has a market cap of $10.77 billion, a P/E ratio of 14.84 and a beta of 0.76.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly 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. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. The firm's quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

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

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.

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