ProShare Advisors LLC Acquires 23,092 Shares of Old Republic International Corporation $ORI

ProShare Advisors LLC grew its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 2.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 873,050 shares of the insurance provider’s stock after buying an additional 23,092 shares during the period. ProShare Advisors LLC’s holdings in Old Republic International were worth $33,560,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock valued at $145,481,000 after acquiring an additional 1,827,180 shares in the last quarter. Nuveen LLC bought a new position in Old Republic International in the 1st quarter worth $31,866,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Old Republic International in the 2nd quarter worth about $19,299,000. GW&K Investment Management LLC lifted its position in shares of Old Republic International by 44.4% in the 1st quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock worth $56,322,000 after purchasing an additional 441,799 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Old Republic International by 106.4% during the 1st quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock valued at $30,779,000 after purchasing an additional 404,570 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler decreased their price target on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Raymond James Financial raised 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 research report on Monday, September 22nd. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus target price of $46.50.

Insider Buying and Selling

In other Old Republic International news, 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 completion of the transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Therace Risch bought 1,500 shares of the company’s 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 acquisition, the director directly owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This represents a 18.46% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by company insiders.

Old Republic International Stock Up 1.9%

Shares of Old Republic International stock opened at $42.16 on Wednesday. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $44.00. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 14.10 and a beta of 0.79. The company has a 50-day moving average of $41.17 and a 200 day moving average of $38.92. 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 data on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The business had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.28 billion. As a group, sell-side analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share 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. Investors of record on Friday, September 5th were paid a $0.29 dividend. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.8%. Old Republic International’s dividend payout ratio is presently 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.