Pacer Advisors Inc. bought a new position in Old Republic International Co. (NYSE:ORI – Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 47,800 shares of the insurance provider’s stock, valued at approximately $1,203,000.
Several other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its stake in shares of Old Republic International by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 154,054 shares of the insurance provider’s stock worth $3,846,000 after purchasing an additional 4,695 shares during the period. First Hawaiian Bank lifted its stake in shares of Old Republic International by 4.5% in the 2nd quarter. First Hawaiian Bank now owns 15,417 shares of the insurance provider’s stock worth $388,000 after purchasing an additional 657 shares during the period. Brandes Investment Partners LP lifted its stake in shares of Old Republic International by 17.4% in the 1st quarter. Brandes Investment Partners LP now owns 1,797,271 shares of the insurance provider’s stock worth $44,878,000 after purchasing an additional 266,491 shares during the period. Security National Bank of Sioux City Iowa IA bought a new position in shares of Old Republic International in the 4th quarter worth approximately $224,000. Finally, Illinois Municipal Retirement Fund raised its stake in Old Republic International by 40.8% during the 1st quarter. Illinois Municipal Retirement Fund now owns 51,746 shares of the insurance provider’s stock worth $1,292,000 after acquiring an additional 14,997 shares during the period. 70.61% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on ORI shares. Piper Sandler raised their target price on shares of Old Republic International from $27.00 to $31.00 in a research note on Friday, July 28th. StockNews.com started coverage on shares of Old Republic International in a report on Thursday, August 17th. They set a “buy” rating for the company.
Insider Transactions at Old Republic International
In other news, Director Barbara Adachi acquired 3,620 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was purchased at an average cost of $27.64 per share, for a total transaction of $100,056.80. Following the completion of the acquisition, the director now directly owns 5,920 shares of the company’s stock, valued at approximately $163,628.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Old Republic International news, EVP Stephen J. Oberst sold 26,500 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.68, for a total transaction of $733,520.00. Following the completion of the sale, the executive vice president now directly owns 68,574 shares of the company’s stock, valued at $1,898,128.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Barbara Adachi purchased 3,620 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were purchased at an average cost of $27.64 per share, with a total value of $100,056.80. Following the completion of the transaction, the director now owns 5,920 shares of the company’s stock, valued at approximately $163,628.80. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.
Old Republic International Stock Up 0.1 %
NYSE ORI opened at $27.26 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average of $27.35 and a two-hundred day moving average of $25.80. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of 10.33 and a beta of 0.79. Old Republic International Co. has a 52 week low of $20.60 and a 52 week high of $29.89.
Old Republic International (NYSE:ORI – Get Free Report) last posted its quarterly earnings data on Thursday, July 27th. The insurance provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.54 by $0.08. Old Republic International had a net margin of 10.18% and a return on equity of 13.20%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.93 billion. On average, analysts predict that Old Republic International Co. will post 2.6 earnings per share for the current year.
Old Republic International Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a dividend yield of 3.60%. This is an increase from Old Republic International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 1st. Old Republic International’s dividend payout ratio (DPR) is 37.12%.
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 the Republic Financial Indemnity Group Run-off Business.
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