United Community Bank Makes New Investment in Old Republic International Corporation $ORI

United Community Bank bought a new stake in Old Republic International Corporation (NYSE:ORI) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 13,930 shares of the insurance provider’s stock, valued at approximately $592,000.

Other hedge funds have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Old Republic International by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 2,867 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Old Republic International by 121.9% in the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp grew its stake in Old Republic International by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after buying an additional 2,493 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Old Republic International by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock worth $62,480,000 after buying an additional 148,891 shares during the last quarter. Finally, Sivia Capital Partners LLC increased its position in Old Republic International by 31.8% during the second quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock worth $323,000 after buying an additional 2,028 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 6,680 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the sale, the senior vice president owned 29,075 shares in the company, valued at approximately $1,295,000.50. The trade was a 18.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

ORI has been the subject of several research reports. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 price target (down previously from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Old Republic International presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Old Republic International Stock Up 0.2%

ORI opened at $39.17 on Monday. The company has a market cap of $9.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.75. Old Republic International Corporation has a one year low of $34.43 and a one year high of $46.76. The business’s fifty day moving average is $43.78 and its two-hundred day moving average is $41.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.64.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company posted $0.90 EPS. Analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were issued a $2.50 dividend. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is 34.22%.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.