Sequoia Financial Advisors LLC Invests $1.07 Million in Old Republic International Corporation $ORI

Sequoia Financial Advisors LLC purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 27,911 shares of the insurance provider’s stock, valued at approximately $1,073,000.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in Old Republic International by 23.4% in the 1st quarter. GAMMA Investing LLC now owns 5,526 shares of the insurance provider’s stock worth $217,000 after acquiring an additional 1,047 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Old Republic International by 4.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock worth $23,143,000 after acquiring an additional 23,775 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of Old Republic International during the first quarter worth approximately $254,000. Woodmont Investment Counsel LLC increased its position in shares of Old Republic International by 2.9% during the first quarter. Woodmont Investment Counsel LLC now owns 129,085 shares of the insurance provider’s stock worth $5,063,000 after acquiring an additional 3,621 shares during the period. Finally, HWG Holdings LP purchased a new position in shares of Old Republic International during the first quarter worth approximately $25,000. 70.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Republic International

In other news, Director Therace Risch bought 1,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was bought at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Old Republic International Price Performance

Shares of ORI opened at $41.48 on Friday. The company has a market cap of $10.31 billion, a price-to-earnings ratio of 14.21 and a beta of 0.76. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $40.70 and a two-hundred day moving average of $38.50.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. Old Republic International’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were paid 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 (DPR) is 39.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Old Republic International from $45.00 to $47.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Strong Buy” and an average target price of $47.00.

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.