Bank of New York Mellon Corp Raises Position in Old Republic International Corporation $ORI

Bank of New York Mellon Corp lifted its holdings in Old Republic International Corporation (NYSE:ORI) by 3.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,009,780 shares of the insurance provider’s stock after purchasing an additional 91,544 shares during the quarter. Bank of New York Mellon Corp owned about 1.22% of Old Republic International worth $115,696,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burney Co. raised its stake in Old Republic International by 0.3% in the second quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock valued at $3,456,000 after buying an additional 276 shares during the last quarter. Simon Quick Advisors LLC increased its holdings in shares of Old Republic International by 62.8% during the second quarter. Simon Quick Advisors LLC now owns 12,533 shares of the insurance provider’s stock valued at $482,000 after acquiring an additional 4,835 shares in the last quarter. Strs Ohio raised its position in shares of Old Republic International by 6.0% in the 2nd quarter. Strs Ohio now owns 84,973 shares of the insurance provider’s stock valued at $3,266,000 after purchasing an additional 4,784 shares during the last quarter. Impact Partnership Wealth LLC boosted its stake in Old Republic International by 6.9% in the 2nd quarter. Impact Partnership Wealth LLC now owns 15,517 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 1,008 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC acquired a new stake in Old Republic International in the 2nd quarter worth approximately $163,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Old Republic International

In other news, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Therace Risch bought 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Old Republic International Trading Up 1.3%

Shares of Old Republic International stock opened at $41.20 on Friday. The stock has a market cap of $10.19 billion, a PE ratio of 13.78 and a beta of 0.79. The firm has a fifty day moving average price of $41.10 and a 200 day moving average price of $38.85. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $44.00. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.64 and a quick ratio of 0.25.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio (DPR) is 38.80%.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of recent analyst reports. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price target for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Piper Sandler dropped their price target on 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. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, Old Republic International presently has an average rating of “Strong Buy” and a consensus target price of $46.50.

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.