Brighton Jones LLC Buys Shares of 22,894 Old Republic International Corporation $ORI

Brighton Jones LLC bought a new stake in shares of Old Republic International Corporation (NYSE:ORI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 22,894 shares of the insurance provider’s stock, valued at approximately $880,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Focus Partners Advisor Solutions LLC increased its stake in shares of Old Republic International by 26.0% in the second quarter. Focus Partners Advisor Solutions LLC now owns 41,742 shares of the insurance provider’s stock worth $1,604,000 after purchasing an additional 8,624 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of Old Republic International by 275.6% in the second quarter. First Citizens Bank & Trust Co. now owns 31,368 shares of the insurance provider’s stock worth $1,206,000 after purchasing an additional 23,016 shares in the last quarter. LifeWealth Investments LLC purchased a new stake in shares of Old Republic International in the second quarter worth $392,000. Freedom Investment Management Inc. purchased a new stake in shares of Old Republic International in the second quarter worth $492,000. Finally, Dupree Financial Group LLC increased its stake in shares of Old Republic International by 1.1% in the second quarter. Dupree Financial Group LLC now owns 211,706 shares of the insurance provider’s stock worth $8,138,000 after purchasing an additional 2,264 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction 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 completion of the transaction, the senior vice president 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction 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 transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $39.37 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.64. The firm has a fifty day moving average price of $41.07 and a 200 day moving average price of $38.73. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $44.00. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 13.17 and a beta of 0.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.73 by $0.38. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. As a group, sell-side analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.9%. Old Republic International’s dividend payout ratio (DPR) is 38.80%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ORI. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. 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. Finally, Piper Sandler dropped their target price on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Strong Buy” and a consensus price target of $46.50.

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.