Envestnet Portfolio Solutions Inc. Increases Stake in Old Republic International Corporation $ORI

Envestnet Portfolio Solutions Inc. raised its stake in shares of Old Republic International Corporation (NYSE:ORI) by 257.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,762 shares of the insurance provider’s stock after buying an additional 25,764 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Old Republic International were worth $1,375,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ORI. GAMMA Investing LLC grew its holdings in Old Republic International by 23.4% during the 1st quarter. GAMMA Investing LLC now owns 5,526 shares of the insurance provider’s stock valued at $217,000 after buying an additional 1,047 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew 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. Sagespring Wealth Partners LLC purchased a new position in shares of Old Republic International in the first quarter valued at $254,000. Woodmont Investment Counsel LLC grew its holdings in shares of Old Republic International by 2.9% in the first quarter. Woodmont Investment Counsel LLC now owns 129,085 shares of the insurance provider’s stock valued at $5,063,000 after purchasing an additional 3,621 shares in the last quarter. Finally, HWG Holdings LP purchased a new position in shares of Old Republic International in the first quarter valued at $25,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the subject of a number of recent research reports. Raymond James Financial raised shares of 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. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Finally, Piper Sandler raised their target price on shares of Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Old Republic International has an average rating of “Strong Buy” and a consensus price target of $47.00.

Old Republic International Stock Up 1.4%

NYSE:ORI opened at $41.48 on Friday. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 14.21 and a beta of 0.76. The stock has a fifty day simple moving average of $40.70 and a 200-day simple moving average of $38.50. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio (DPR) is 39.73%.

Insider Transactions at Old Republic International

In other Old Republic International news, Director Therace Risch bought 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was acquired at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director owned 9,625 shares in the company, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the firm’s stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Corporate 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.