Old Republic International Corporation $ORI Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,009,780 shares of the insurance provider’s stock after purchasing an additional 91,544 shares during the quarter. Bank of New York Mellon Corp’s holdings in Old Republic International were worth $115,696,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hamlin Capital Management LLC lifted its position in shares of Old Republic International by 0.3% during the 2nd quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock valued at $200,166,000 after buying an additional 15,920 shares in the last quarter. AQR Capital Management LLC increased its holdings in Old Republic International by 96.9% in the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after acquiring an additional 1,827,180 shares in the last quarter. Northern Trust Corp raised its position in Old Republic International by 11.8% during the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock worth $139,306,000 after acquiring an additional 375,916 shares during the period. Invesco Ltd. lifted its holdings in Old Republic International by 7.3% during the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock valued at $98,891,000 after purchasing an additional 171,497 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Old Republic International by 9.7% during the first quarter. Raymond James Financial Inc. now owns 2,032,093 shares of the insurance provider’s stock valued at $79,699,000 after purchasing an additional 179,254 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Wall Street Zen cut Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Piper Sandler lowered their price target on Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Strong Buy” and an average target price of $46.50.

Old Republic International Stock Up 1.3%

ORI stock opened at $41.20 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The firm has a 50-day moving average of $41.10 and a two-hundred day moving average of $38.85. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The company has a market cap of $10.19 billion, a price-to-earnings ratio of 13.78 and a beta of 0.79.

Old Republic International (NYSE:ORI) last issued its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.28 billion. As a group, analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business 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 2.8%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is presently 38.80%.

Insiders Place Their Bets

In related news, Director Therace Risch purchased 1,000 shares of Old Republic International stock in a transaction dated Monday, November 3rd. The shares were acquired at an average price of $39.14 per share, for a total transaction of $39,140.00. Following the acquisition, the director directly owned 10,625 shares in the company, valued at approximately $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated 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 directly owned 54,661 shares in the company, valued at approximately $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 owned by company insiders.

Old Republic International Company 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.