Vest Financial LLC Has $3.53 Million Stock Position in Old Republic International Corporation $ORI

Vest Financial LLC boosted its stake in Old Republic International Corporation (NYSE:ORI) by 116.7% in the fourth quarter, Holdings Channel reports. The firm owned 77,443 shares of the insurance provider’s stock after purchasing an additional 41,712 shares during the quarter. Vest Financial LLC’s holdings in Old Republic International were worth $3,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in Old Republic International in the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new stake in shares of Old Republic International during the third quarter worth about $27,000. Torren Management LLC bought a new stake in shares of Old Republic International during the fourth quarter worth about $27,000. Clearstead Trust LLC grew its holdings in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 288 shares during the last quarter. Finally, Quest 10 Wealth Builders Inc. bought a new stake in shares of Old Republic International during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Price Performance

Old Republic International stock opened at $39.70 on Thursday. The stock’s 50 day moving average is $40.81 and its 200 day moving average is $42.14. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.27. The firm has a market cap of $9.67 billion, a P/E ratio of 10.64 and a beta of 0.72. Old Republic International Corporation has a one year low of $35.60 and a one year 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 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.Old Republic International’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.81 earnings per share. As a group, research analysts expect that Old Republic International Corporation will post 3.2 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio (DPR) is currently 33.78%.

Insider Buying and Selling

In other news, Director John Eric Smith acquired 1,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the purchase, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares of the company’s stock, valued at $1,094,930. This trade represents a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 1.32% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ORI. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Piper Sandler boosted 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. Raymond James Financial set a $44.00 price target on Old Republic International in a report on Monday. Finally, Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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. 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.