Evolve Private Wealth LLC Purchases Shares of 108,844 Old Republic International Corporation $ORI

Evolve Private Wealth LLC acquired a new stake in Old Republic International Corporation (NYSE:ORI) during the 4th quarter, Holdings Channel reports. The firm acquired 108,844 shares of the insurance provider’s stock, valued at approximately $4,968,000.

Several other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Old Republic International by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock worth $1,081,745,000 after purchasing an additional 123,954 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Old Republic International by 230.6% during the 4th quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after buying an additional 8,266,829 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Old Republic International by 30.7% during the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock valued at $319,155,000 after buying an additional 1,774,807 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Old Republic International by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock valued at $285,268,000 after buying an additional 116,549 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Old Republic International by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock worth $190,870,000 after buying an additional 72,857 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Piper Sandler increased their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Raymond James Financial set a $44.00 price objective on Old Republic International in a research report on Monday, April 27th. Finally, Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the sale, the senior vice president directly owned 32,261 shares in the company, valued at $1,250,436.36. This represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by insiders.

Old Republic International Trading Down 0.9%

Shares of ORI opened at $38.73 on Thursday. The stock has a market capitalization of $9.40 billion, a PE ratio of 10.38 and a beta of 0.59. The company’s fifty day moving average is $39.54 and its 200 day moving average is $41.28. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter last year, the business earned $0.81 EPS. Old Republic International’s revenue for the quarter was up 6.7% compared to the same quarter last year. Sell-side analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.3%. Old Republic International’s dividend payout ratio (DPR) is currently 33.78%.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.