Transcend Capital Advisors LLC Takes $277,000 Position in Old Republic International Corporation $ORI

Transcend Capital Advisors LLC purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,219 shares of the insurance provider’s stock, valued at approximately $277,000.

Several other institutional investors and hedge funds have also made changes to their positions in ORI. 1 North Wealth Services LLC purchased a new stake in Old Republic International during the 1st quarter worth about $29,000. Quarry LP increased its position in Old Republic International by 6,645.5% during 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. Wayfinding Financial LLC purchased a new stake in Old Republic International during the 1st quarter worth about $34,000. Ameritas Advisory Services LLC purchased a new stake in Old Republic International during the 2nd quarter worth about $34,000. Finally, N.E.W. Advisory Services LLC purchased a new stake in Old Republic International during the 1st quarter worth about $35,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Up 2.4%

ORI opened at $39.32 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.64 and a quick ratio of 0.25. The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of 13.15 and a beta of 0.76. The business has a 50-day moving average of $41.05 and a two-hundred day moving average of $38.74. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.73 by $0.38. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. On average, research analysts expect 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. Stockholders of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s payout ratio is presently 38.80%.

Insider Transactions at Old Republic International

In other 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 price of $39.90 per share, for a total transaction of $59,850.00. Following the acquisition, the director owned 9,625 shares of the company’s stock, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ORI shares. Raymond James Financial upgraded 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 report on Monday, September 22nd. Piper Sandler dropped their price objective on 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. Wall Street Zen cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two 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, Old Republic International presently has an average rating of “Strong Buy” and an average target price 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.