Prudential Financial Inc. Grows Position in Old Republic International Corporation $ORI

Prudential Financial Inc. lifted its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 16.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,410 shares of the insurance provider’s stock after purchasing an additional 11,551 shares during the quarter. Prudential Financial Inc.’s holdings in Old Republic International were worth $3,091,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ORI. 1 North Wealth Services LLC bought a new stake in Old Republic International during the first quarter valued at approximately $29,000. Quarry LP increased its holdings in shares of Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after buying an additional 731 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Old Republic International during the 2nd quarter valued at $34,000. SBI Securities Co. Ltd. lifted its holdings in shares of Old Republic International by 29.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 274 shares during the last quarter. Finally, Neo Ivy Capital Management purchased a new position in Old Republic International in the second quarter worth $57,000. 70.92% of the stock is currently owned by institutional investors.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,680 shares of the company’s stock in a transaction on Friday, November 14th. The shares were 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 directly owned 29,075 shares in the company, valued at $1,295,000.50. This represents a 18.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Therace Risch purchased 1,000 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were purchased at an average cost of $39.14 per share, with a total value of $39,140.00. Following the transaction, the director directly owned 10,625 shares in the company, valued at $415,862.50. This trade represents a 10.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ORI has been the topic of a number of research reports. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Piper Sandler reduced their price objective on 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. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Old Republic International presently has an average rating of “Strong Buy” and an average target price of $46.50.

Old Republic International Stock Down 1.5%

Shares of NYSE:ORI opened at $44.75 on Wednesday. The stock has a market capitalization of $11.07 billion, a P/E ratio of 14.97 and a beta of 0.77. The stock’s 50-day moving average price is $42.61 and its 200-day moving average price is $39.68. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $46.63.

Old Republic International (NYSE:ORI) last released its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. On average, equities analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Friday, December 5th. Old Republic International’s dividend payout ratio is 38.80%.

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.