CENTRAL TRUST Co Acquires 2,180 Shares of Old Republic International Co. (NYSE:ORI)

Posted by Defense World Staff on Jul 4th, 2023

CENTRAL TRUST Co grew its holdings in shares of Old Republic International Co. (NYSE:ORI – Free Report) by 545.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,580 shares of the insurance provider’s stock after purchasing an additional 2,180 shares during the quarter. CENTRAL TRUST Co’s holdings in Old Republic International were worth $64,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORI. Financial Management Professionals Inc. bought a new position in shares of Old Republic International in the first quarter valued at approximately $25,000. Belpointe Asset Management LLC bought a new position in shares of Old Republic International in the fourth quarter valued at approximately $28,000. Stonebridge Capital Advisors LLC boosted its position in shares of Old Republic International by 130.9% in the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,411 shares of the insurance provider’s stock valued at $34,000 after acquiring an additional 800 shares during the period. Atlas Capital Advisors LLC bought a new position in shares of Old Republic International in the second quarter valued at approximately $34,000. Finally, GPS Wealth Strategies Group LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $40,000. Institutional investors own 70.66% of the company’s stock.

Analyst Ratings Changes

ORI has been the subject of a number of analyst reports. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Tuesday, June 6th. Piper Sandler started coverage on shares of Old Republic International in a research report on Wednesday, May 17th. They set a “neutral” rating and a $27.00 target price for the company.

Old Republic International Trading Down 0.6 %

Shares of Old Republic International stock opened at $25.01 on Tuesday. Old Republic International Co. has a 1 year low of $20.27 and a 1 year high of $26.72. The firm has a market cap of $7.32 billion, a PE ratio of 12.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50 day simple moving average of $25.01 and a two-hundred day simple moving average of $25.02.

Old Republic International (NYSE:ORI – Free Report) last posted its quarterly earnings results on Thursday, April 27th. The insurance provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.50 by $0.11. The firm had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.78 billion. Old Republic International had a net margin of 7.60% and a return on equity of 13.55%. Analysts expect that Old Republic International Co. will post 2.4 earnings per share for the current fiscal year.

Old Republic International Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Monday, June 5th were paid a dividend of $0.244 per share. This represents a $0.98 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Friday, June 2nd. Old Republic International’s dividend payout ratio (DPR) is presently 49.75%.

About Old Republic International

(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 the Republic Financial Indemnity Group Run-off Business.