Trust Co. of Toledo NA OH Invests $60,000 in Old Republic International Corporation $ORI

Trust Co. of Toledo NA OH purchased a new position in Old Republic International Corporation (NYSE:ORI) during the second quarter, HoldingsChannel reports. The institutional investor purchased 1,563 shares of the insurance provider’s stock, valued at approximately $60,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted its stake in Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock worth $23,143,000 after buying an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Old Republic International by 304.7% in the first quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider’s stock worth $607,000 after acquiring an additional 11,534 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after acquiring an additional 100,264 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its position in shares of Old Republic International by 28.8% in the first quarter. Robeco Institutional Asset Management B.V. now owns 304,140 shares of the insurance provider’s stock worth $11,928,000 after acquiring an additional 67,971 shares during the last quarter. Finally, Wealthstar Advisors LLC acquired a new stake in shares of Old Republic International in the first quarter worth approximately $327,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Old Republic International Stock Performance

Old Republic International stock opened at $43.16 on Monday. The stock’s 50 day moving average price is $40.16 and its 200 day moving average price is $38.39. Old Republic International Corporation has a one year low of $33.00 and a one year high of $44.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market capitalization of $10.72 billion, a PE ratio of 14.78 and a beta of 0.76.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Old Republic International’s revenue was up 10.1% on a year-over-year basis. As a group, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s payout ratio is presently 39.73%.

Insider Buying and Selling

In related news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. 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.