Summit Investment Advisors Inc. Cuts Stake in Old Republic International Corporation $ORI

Summit Investment Advisors Inc. lowered its stake in shares of Old Republic International Corporation (NYSE:ORI) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,510 shares of the insurance provider’s stock after selling 5,925 shares during the period. Summit Investment Advisors Inc.’s holdings in Old Republic International were worth $4,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. 1 North Wealth Services LLC bought a new position in shares of Old Republic International during the 1st quarter valued at about $29,000. Quarry LP grew its holdings in Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after buying an additional 731 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Old Republic International during the second quarter valued at $34,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Old Republic International during the 1st quarter valued at about $35,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Old Republic International in the 1st quarter valued at about $36,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In other Old Republic International news, Director Therace Risch bought 1,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were bought at an average cost 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm’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 $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 corporate insiders.

Wall Street Analysts Forecast Growth

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

Old Republic International Stock Performance

Old Republic International stock opened at $41.20 on Friday. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $44.00. The company has a market capitalization of $10.19 billion, a PE ratio of 13.78 and a beta of 0.79. The company has a 50 day moving average price of $41.10 and a 200-day moving average price of $38.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.64.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 EPS 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 company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.28 billion. As a group, equities analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a $0.29 dividend. 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 payout ratio is presently 38.80%.

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.