First Citizens Bank & Trust Co. Has $1.21 Million Position in Old Republic International Corporation $ORI

First Citizens Bank & Trust Co. grew its stake in shares of Old Republic International Corporation (NYSE:ORI) by 275.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 31,368 shares of the insurance provider’s stock after buying an additional 23,016 shares during the period. First Citizens Bank & Trust Co.’s holdings in Old Republic International were worth $1,206,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Hamlin Capital Management LLC raised its position in shares of Old Republic International by 0.3% during the second quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock valued at $200,166,000 after buying an additional 15,920 shares during the last quarter. AQR Capital Management LLC raised its position in Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after purchasing an additional 1,827,180 shares in the last quarter. Northern Trust Corp raised its position in Old Republic International by 11.8% in the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock worth $139,306,000 after purchasing an additional 375,916 shares in the last quarter. Bank of New York Mellon Corp raised its position in 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 purchasing an additional 100,264 shares in the last quarter. Finally, Invesco Ltd. raised its position in Old Republic International by 7.3% in the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock worth $98,891,000 after purchasing an additional 171,497 shares in 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 stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Therace Risch purchased 1,500 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the purchase, the director directly owned 9,625 shares of the company’s stock, valued at $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $40.51 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.06 billion, a price-to-earnings ratio of 13.55 and a beta of 0.76. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $44.00. The firm’s 50-day moving average price is $41.01 and its two-hundred day moving average price is $38.65.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations 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 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders 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 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is currently 39.73%.

Analysts Set New Price Targets

Several research firms recently issued reports on ORI. Wall Street Zen lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Piper Sandler dropped their price target on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price target for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy” and a consensus price target of $46.50.

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.