Leith Wheeler Investment Counsel Ltd. Has $11.07 Million Stock Position in Old Republic International Corporation $ORI

Leith Wheeler Investment Counsel Ltd. increased its position in shares of Old Republic International Corporation (NYSE:ORI) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 277,533 shares of the insurance provider’s stock after buying an additional 20,324 shares during the period. Old Republic International accounts for approximately 0.9% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 29th biggest position. Leith Wheeler Investment Counsel Ltd. owned about 0.11% of Old Republic International worth $11,074,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORI. Meeder Advisory Services Inc. lifted its position in Old Republic International by 8.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 14,670 shares of the insurance provider’s stock worth $585,000 after acquiring an additional 1,090 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Old Republic International by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock valued at $268,202,000 after acquiring an additional 60,395 shares during the period. KBC Group NV grew its position in shares of Old Republic International by 20.4% in the first quarter. KBC Group NV now owns 7,464 shares of the insurance provider’s stock valued at $298,000 after purchasing an additional 1,267 shares during the last quarter. Simon Quick Advisors LLC acquired a new stake in shares of Old Republic International in the first quarter valued at about $263,000. Finally, Modera Wealth Management LLC bought a new position in shares of Old Republic International in the first quarter worth about $251,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Piper Sandler upped their price target on Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Finally, Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Trading Down 0.1%

ORI stock opened at $42.21 on Tuesday. The business has a fifty day moving average price of $39.65 and a 200 day moving average price of $40.60. The stock has a market capitalization of $10.25 billion, a price-to-earnings ratio of 11.32 and a beta of 0.58. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.81 EPS. Analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a dividend of $0.315 per share. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s payout ratio is presently 33.78%.

Insider Activity

In related news, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the transaction, the senior vice president owned 32,261 shares in the company, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by company insiders.

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.