Old Republic International Corporation $ORI Stock Position Lifted by Private Trust Co. NA

Private Trust Co. NA raised its stake in Old Republic International Corporation (NYSE:ORI) by 101.1% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,810 shares of the insurance provider’s stock after buying an additional 1,413 shares during the quarter. Private Trust Co. NA’s holdings in Old Republic International were worth $108,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ORI. Hamlin Capital Management LLC grew its stake in Old Republic International by 1.6% in the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider’s stock valued at $203,603,000 after purchasing an additional 79,796 shares in the last quarter. AQR Capital Management LLC raised its position in Old Republic International by 96.9% during 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 acquiring an additional 1,827,180 shares in the last quarter. Northern Trust Corp lifted its stake in 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 acquiring an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp grew its position in 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 worth $114,453,000 after acquiring an additional 100,264 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Old Republic International by 7.3% during the 1st quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock worth $98,891,000 after purchasing an additional 171,497 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Therace Risch bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares in the company, valued at $384,037.50. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 value of $188,474.13. Following the completion of the transaction, the executive vice president directly 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 position. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.

Old Republic International Stock Performance

ORI opened at $41.96 on Thursday. 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 stock’s 50 day moving average price is $40.94 and its two-hundred day moving average price is $38.58. The firm has a market capitalization of $10.43 billion, a P/E ratio of 14.37 and a beta of 0.76. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $44.00.

Old Republic International (NYSE:ORI) 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. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.Old Republic International’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were given a dividend of $0.29 per share. 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 2.8%. Old Republic International’s dividend payout ratio is currently 39.73%.

Analyst Ratings Changes

Several research firms recently issued reports on ORI. Piper Sandler lifted their price objective on shares of Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price 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.