Midwest Trust Co Acquires New Holdings in Old Republic International Corporation $ORI

Midwest Trust Co bought a new stake in Old Republic International Corporation (NYSE:ORI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 8,623 shares of the insurance provider’s stock, valued at approximately $331,000.

Several other large investors also recently added to or reduced their stakes in ORI. Brandywine Global Investment Management LLC boosted its holdings in Old Republic International by 15.9% in the first quarter. Brandywine Global Investment Management LLC now owns 635,855 shares of the insurance provider’s stock worth $24,938,000 after purchasing an additional 87,398 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Old Republic International by 7.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,533,958 shares of the insurance provider’s stock valued at $60,162,000 after buying an additional 108,711 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Old Republic International by 83.2% in the first quarter. Kovitz Investment Group Partners LLC now owns 22,702 shares of the insurance provider’s stock worth $890,000 after buying an additional 10,312 shares during the last quarter. Foster & Motley Inc. boosted its stake in shares of Old Republic International by 32.5% during the 2nd quarter. Foster & Motley Inc. now owns 40,272 shares of the insurance provider’s stock worth $1,548,000 after acquiring an additional 9,876 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Old Republic International by 19.0% during the 1st quarter. Russell Investments Group Ltd. now owns 88,747 shares of the insurance provider’s stock worth $3,480,000 after acquiring an additional 14,167 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Insider Activity at Old Republic International

In other news, Director Therace Risch acquired 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were acquired at an average cost of $39.14 per share, for a total transaction of $39,140.00. Following the completion of the transaction, the director owned 10,625 shares in the company, valued at approximately $415,862.50. This trade represents a 10.39% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the company’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 transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Old Republic International Stock Up 1.5%

Shares of ORI stock opened at $42.77 on Thursday. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. The firm has a market cap of $10.58 billion, a PE ratio of 14.30 and a beta of 0.79. The stock has a 50 day moving average of $41.22 and a 200-day moving average of $38.95.

Old Republic International (NYSE:ORI) last announced its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $2.42 billion for 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, equities analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.7%. The ex-dividend date was Friday, September 5th. Old Republic International’s payout ratio is currently 38.80%.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Finally, Piper Sandler dropped their price target on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a research report on Friday, October 24th. Two investment 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, Old Republic International has a consensus rating of “Strong Buy” and a consensus target price of $46.50.

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.