Brighton Jones LLC Purchases New Position in Old Republic International Corporation $ORI

Brighton Jones LLC purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 22,894 shares of the insurance provider’s stock, valued at approximately $880,000.

Several other hedge funds have also bought and sold shares of ORI. Quarry LP boosted its stake in Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 731 shares in the last quarter. 1 North Wealth Services LLC bought a new stake in Old Republic International during the first quarter worth about $29,000. Wayfinding Financial LLC bought a new stake in Old Republic International during the first quarter worth about $34,000. Ameritas Advisory Services LLC bought a new stake in Old Republic International during the second quarter worth about $34,000. Finally, N.E.W. Advisory Services LLC bought a new stake in Old Republic International during the first quarter worth about $35,000. Institutional investors own 70.92% of the company’s stock.

Insider Activity

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction on Tuesday, September 2nd. The shares were acquired at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the acquisition, the director owned 9,625 shares of the company’s stock, valued at $384,037.50. The trade was a 18.46% increase in their position. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ORI shares. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Piper Sandler dropped their price objective on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday, October 24th. Finally, Wall Street Zen downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, Old Republic International presently has a consensus rating of “Strong Buy” and a consensus target price of $46.50.

Old Republic International Stock Down 2.8%

ORI opened at $39.37 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average price of $41.07 and a 200-day moving average price of $38.73. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The stock has a market capitalization of $9.78 billion, a price-to-earnings ratio of 13.17 and a beta of 0.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.11 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.38. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Equities research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s payout ratio is presently 38.80%.

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.