Savant Capital LLC Increases Stake in Old Republic International Corporation $ORI

Savant Capital LLC grew its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 33.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,212 shares of the insurance provider’s stock after purchasing an additional 12,452 shares during the quarter. Savant Capital LLC’s holdings in Old Republic International were worth $1,892,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its position in Old Republic International by 11.6% during the first quarter. Envestnet Asset Management Inc. now owns 244,834 shares of the insurance provider’s stock worth $9,602,000 after acquiring an additional 25,450 shares during the last quarter. Allworth Financial LP lifted its stake in Old Republic International by 828.0% in the 1st quarter. Allworth Financial LP now owns 10,839 shares of the insurance provider’s stock worth $416,000 after purchasing an additional 9,671 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Old Republic International by 60.6% during the 1st quarter. Cerity Partners LLC now owns 48,512 shares of the insurance provider’s stock worth $1,903,000 after purchasing an additional 18,300 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Old Republic International by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 65,300 shares of the insurance provider’s stock valued at $2,561,000 after purchasing an additional 600 shares in the last quarter. Finally, CWM LLC grew its position in shares of Old Republic International by 226.0% in the first quarter. CWM LLC now owns 46,537 shares of the insurance provider’s stock valued at $1,825,000 after purchasing an additional 32,264 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Therace Risch acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was acquired at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the purchase, the director owned 10,625 shares of the company’s stock, valued at $415,862.50. This represents a 10.39% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Piper Sandler reduced their price target on Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Finally, Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and an average price target of $46.50.

Old Republic International Stock Up 1.9%

Shares of ORI opened at $42.16 on Wednesday. The company’s 50-day moving average price is $41.17 and its 200 day moving average price is $38.92. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $44.00. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The firm has a market cap of $10.43 billion, a P/E ratio of 14.10 and a beta of 0.79.

Old Republic International (NYSE:ORI) last announced its 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 during the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. On average, sell-side 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 announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued 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 38.80%.

Old Republic International 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.