42,532 Shares in Old Republic International Corporation $ORI Purchased by Foster & Motley Inc.

Foster & Motley Inc. purchased a new position in Old Republic International Corporation (NYSE:ORI) in the second quarter, Holdings Channel.com reports. The firm purchased 42,532 shares of the insurance provider’s stock, valued at approximately $1,740,000.

Several other hedge funds have also recently made changes to their positions in the stock. Trust Co. of Vermont bought a new stake in Old Republic International in the 2nd quarter worth approximately $205,000. Bank of New York Mellon Corp bought a new position in shares of Old Republic International during the 2nd quarter valued at $491,660,000. Insight Wealth Strategies LLC boosted its stake in shares of Old Republic International by 23.3% in the 2nd quarter. Insight Wealth Strategies LLC now owns 85,627 shares of the insurance provider’s stock worth $3,512,000 after buying an additional 16,203 shares during the last quarter. Fiduciary Financial Group LLC grew its holdings in shares of Old Republic International by 7.1% in the second quarter. Fiduciary Financial Group LLC now owns 8,355 shares of the insurance provider’s stock worth $342,000 after acquiring an additional 551 shares during the period. Finally, Handelsbanken Fonder AB grew its holdings in shares of Old Republic International by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 60,871 shares of the insurance provider’s stock worth $2,491,000 after acquiring an additional 1,100 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of NYSE ORI opened at $41.92 on Thursday. The firm has a fifty day moving average price of $41.55 and a 200-day moving average price of $40.72. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $10.12 billion, a PE ratio of 9.91 and a beta of 0.58. Old Republic International Corporation has a 1 year low of $36.65 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the firm earned $0.81 earnings per share. Old Republic International’s revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Friday, September 4th. Old Republic International’s payout ratio is currently 29.79%.

Insider Buying and Selling at Old Republic International

In related news, EVP Stephen J. Oberst sold 13,125 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total value of $576,975.00. Following the sale, the executive vice president owned 82,205 shares in the company, valued at approximately $3,613,731.80. The trade was a 13.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeffrey Lange sold 14,075 shares of the business’s stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president owned 12,244 shares in the company, valued at approximately $535,797.44. This trade represents a 53.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 28,988 shares of company stock worth $1,268,458. Insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

ORI has been the subject of several research reports. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research report on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler reduced their target price on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Old Republic International has an average rating of “Moderate Buy” and an average price target of $41.50.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.