Orca Wealth Management LLC Increases Stock Holdings in Old Republic International Corporation $ORI

Orca Wealth Management LLC boosted its position in Old Republic International Corporation (NYSE:ORI) by 0.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 154,328 shares of the insurance provider’s stock after acquiring an additional 451 shares during the period. Old Republic International accounts for about 5.0% of Orca Wealth Management LLC’s holdings, making the stock its 2nd biggest position. Orca Wealth Management LLC’s holdings in Old Republic International were worth $5,932,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Old Republic International by 4.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock valued at $23,143,000 after purchasing an additional 23,775 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Old Republic International by 304.7% in the first quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider’s stock valued at $607,000 after purchasing an additional 11,534 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Old Republic International by 4,738.8% in the first quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider’s stock valued at $8,500,000 after purchasing an additional 212,251 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 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 valued at $114,453,000 after purchasing an additional 100,264 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Old Republic International by 336.1% in the first quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider’s stock valued at $980,000 after purchasing an additional 19,254 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI opened at $43.35 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.77 billion, a price-to-earnings ratio of 14.84 and a beta of 0.76. The stock has a 50 day moving average of $39.45 and a 200 day moving average of $38.22. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $43.56.

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, beating 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International’s revenue was up 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

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

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 35,755 shares of the company’s stock, valued at $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $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. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.