Burns Matteson Capital Management LLC Makes New $535,000 Investment in Old Republic International Corporation $ORI

Burns Matteson Capital Management LLC acquired a new position in Old Republic International Corporation (NYSE:ORI) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 14,342 shares of the insurance provider’s stock, valued at approximately $535,000.

Other large investors also recently modified their holdings of the company. Elevation Wealth Partners LLC grew its stake in shares of Old Republic International by 109.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 839 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 439 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Old Republic International in the 4th quarter worth approximately $48,000. Western Wealth Management LLC bought a new position in shares of Old Republic International in the 1st quarter worth approximately $90,000. Nalls Sherbakoff Group LLC purchased a new position in shares of Old Republic International in the fourth quarter worth approximately $92,000. Finally, CENTRAL TRUST Co boosted its holdings in shares of Old Republic International by 17.8% in the first quarter. CENTRAL TRUST Co now owns 2,608 shares of the insurance provider’s stock worth $104,000 after buying an additional 395 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

NYSE ORI opened at $39.65 on Friday. The company has a market capitalization of $9.57 billion, a PE ratio of 9.37 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. The business’s fifty day moving average is $40.33 and its 200 day moving average is $40.41. Old Republic International Corporation has a fifty-two week low of $36.65 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.81 EPS. Sell-side analysts predict that Old Republic International Corporation will post 2.91 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were given a dividend of $0.3150 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, September 4th. Old Republic International’s payout ratio is presently 29.79%.

Insider Activity

In related news, EVP Stephen J. Oberst sold 13,125 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total transaction of $576,975.00. Following the completion of the transaction, the executive vice president directly owned 82,205 shares in the company, valued at approximately $3,613,731.80. The trade was a 13.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeffrey Lange sold 14,075 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president directly owned 12,244 shares of the company’s stock, valued at $535,797.44. This represents a 53.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 33,374 shares of company stock valued at $1,452,714 in the last ninety days. Corporate insiders own 1.32% of the company’s stock.

Analyst Upgrades and Downgrades

ORI has been the subject of several recent research reports. Weiss Ratings lowered shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler dropped their price target on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Old Republic International has an average rating of “Hold” and an average target price of $41.50.

Old Republic International Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company headquartered in Chicago, Illinois. Founded in 1887, the company operates through subsidiaries that provide insurance products and related services to businesses, individuals, and financial institutions.

Old Republic’s general insurance operations offer commercial property and casualty coverage, including workers’ compensation, commercial automobile, general liability, property, transportation, construction, and specialized industry insurance.