Leith Wheeler Investment Counsel Ltd. Has $4.22 Million Stock Holdings in Old Republic International Corporation $ORI

Leith Wheeler Investment Counsel Ltd. lessened its stake in shares of Old Republic International Corporation (NYSE:ORI) by 62.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 109,859 shares of the insurance provider’s stock after selling 180,149 shares during the quarter. Leith Wheeler Investment Counsel Ltd.’s holdings in Old Republic International were worth $4,223,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of ORI. HWG Holdings LP acquired a new stake in shares of Old Republic International during the 1st quarter worth about $25,000. 1 North Wealth Services LLC acquired a new stake in Old Republic International in the 1st quarter worth about $29,000. Quarry LP raised its stake in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 731 shares in the last quarter. Alpine Bank Wealth Management acquired a new stake in Old Republic International in the 1st quarter worth about $31,000. Finally, Wayfinding Financial LLC acquired a new stake in Old Republic International in the 1st quarter worth about $34,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Piper Sandler lifted their price objective on shares of Old Republic International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, October 6th. Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Finally, Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus price target of $47.00.

Old Republic International Price Performance

ORI stock opened at $43.16 on Monday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The firm has a market cap of $10.72 billion, a P/E ratio of 14.78 and a beta of 0.76. The company’s 50-day moving average price is $40.16 and its two-hundred day moving average price is $38.39.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The firm’s quarterly revenue was up 10.1% on a year-over-year basis. On average, analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal 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 issued a $0.29 dividend. This represents a $1.16 annualized dividend 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%.

Insider Buying and Selling at Old Republic International

In related news, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

About Old Republic International

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.