IFP Advisors Inc Increases Holdings in Old Republic International Corporation $ORI

IFP Advisors Inc grew its position in shares of Old Republic International Corporation (NYSE:ORI) by 14.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 13,847 shares of the insurance provider’s stock after acquiring an additional 1,759 shares during the period. IFP Advisors Inc’s holdings in Old Republic International were worth $532,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ORI. HWG Holdings LP purchased a new position in shares of Old Republic International during the 1st quarter worth approximately $25,000. Quarry LP grew its holdings in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 731 shares during the period. 1 North Wealth Services LLC purchased a new position in shares of Old Republic International during the 1st quarter worth approximately $29,000. Alpine Bank Wealth Management purchased a new position in shares of Old Republic International during the 1st quarter worth approximately $31,000. Finally, Wayfinding Financial LLC purchased a new position in shares of Old Republic International during the 1st quarter worth approximately $34,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

ORI stock opened at $43.51 on Wednesday. The stock has a market capitalization of $10.81 billion, a PE ratio of 14.90 and a beta of 0.76. 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 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The stock’s 50 day simple moving average is $40.43 and its 200 day simple moving average is $38.45.

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

Old Republic International Announces Dividend

The company also recently declared 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 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is presently 39.73%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Piper Sandler upped their target price on Old Republic International from $45.00 to $47.00 and gave the stock an “overweight” rating in a report on Monday, October 6th. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Finally, Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy” and a consensus price target of $47.00.

Insider Activity

In other news, Director Therace Risch purchased 1,500 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $39.90 per share, with a total value of $59,850.00. Following the acquisition, the director directly owned 9,625 shares of the company’s stock, valued at $384,037.50. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the 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 transaction, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.