Avidian Wealth Enterprises LLC Has $423,000 Holdings in Old Republic International Corporation $ORI

Avidian Wealth Enterprises LLC raised its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,996 shares of the insurance provider’s stock after buying an additional 374 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Old Republic International were worth $423,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Hamlin Capital Management LLC lifted its holdings in shares of Old Republic International by 0.3% during the second quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock worth $200,166,000 after buying an additional 15,920 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Old Republic International by 96.9% during the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after buying an additional 1,827,180 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of 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 buying an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Old Republic International by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after buying an additional 100,264 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Old Republic International by 7.3% during the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock worth $98,891,000 after buying an additional 171,497 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Stock Performance

Shares of NYSE:ORI opened at $41.96 on Thursday. The business’s fifty day moving average price is $40.94 and its two-hundred day moving average price is $38.58. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $44.00. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 14.37 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25.

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

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is 39.73%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Piper Sandler boosted their price objective on Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Monday, October 6th. Wall Street Zen cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Raymond James Financial upgraded 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 issued a Buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Strong Buy” and a consensus price target of $47.00.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Therace Risch purchased 1,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

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.