TD Asset Management Inc Has $2.45 Million Position in Old Republic International Corporation $ORI

TD Asset Management Inc raised its stake in shares of Old Republic International Corporation (NYSE:ORI) by 23.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 63,600 shares of the insurance provider’s stock after purchasing an additional 12,000 shares during the period. TD Asset Management Inc’s holdings in Old Republic International were worth $2,445,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of ORI. AQR Capital Management LLC boosted its stake in shares of Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock valued at $145,481,000 after buying an additional 1,827,180 shares during the period. Nuveen LLC acquired a new stake in shares of Old Republic International during the 1st quarter valued at $31,866,000. GW&K Investment Management LLC lifted its stake 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 valued at $56,322,000 after purchasing an additional 441,799 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Old Republic International by 106.4% in 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 during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Old Republic International by 11.8% in the 1st quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock valued at $139,306,000 after purchasing an additional 375,916 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Old Republic International Stock Up 0.6%

Old Republic International stock opened at $42.02 on Wednesday. The firm has a market cap of $10.44 billion, a price-to-earnings ratio of 14.39 and a beta of 0.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $44.00. The firm has a fifty day moving average price of $40.87 and a two-hundred day moving average price of $38.55.

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

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. Old Republic International’s payout ratio is currently 39.73%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ORI. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Raymond James Financial raised shares of 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 note on Monday, September 22nd. Finally, Piper Sandler lifted their price objective on shares of 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 research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and a consensus price target of $47.00.

Old Republic International Company 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.