Woodley Farra Manion Portfolio Management Inc. Invests $4.09 Million in Old Republic International Corporation (NYSE:ORI)

Woodley Farra Manion Portfolio Management Inc. purchased a new position in shares of Old Republic International Corporation (NYSE:ORI) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 104,194 shares of the insurance provider’s stock, valued at approximately $4,086,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ORI. LPL Financial LLC boosted its holdings in Old Republic International by 9.4% in the fourth quarter. LPL Financial LLC now owns 285,770 shares of the insurance provider’s stock valued at $10,342,000 after acquiring an additional 24,573 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Old Republic International by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider’s stock valued at $32,249,000 after acquiring an additional 39,620 shares during the last quarter. Norges Bank bought a new stake in Old Republic International in the fourth quarter valued at approximately $105,581,000. Pictet Asset Management Holding SA boosted its holdings in Old Republic International by 2.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 34,135 shares of the insurance provider’s stock valued at $1,235,000 after acquiring an additional 850 shares during the last quarter. Finally, Summit Financial LLC boosted its holdings in Old Republic International by 6.1% in the fourth quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider’s stock valued at $218,000 after acquiring an additional 347 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Price Performance

Shares of ORI opened at $36.31 on Wednesday. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $39.84. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.24 and a current ratio of 0.63. The business’s 50 day moving average price is $37.28 and its two-hundred day moving average price is $37.23. The firm has a market cap of $8.97 billion, a PE ratio of 12.43 and a beta of 0.73.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International’s revenue for the quarter was up 10.1% on a year-over-year basis. On average, equities analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Friday, June 6th. Old Republic International’s payout ratio is 39.73%.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president directly owned 35,755 shares of the company’s stock, valued at $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on ORI. Piper Sandler reduced their target price on Old Republic International from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Friday, July 25th. Raymond James Financial set a $42.00 price target on Old Republic International and gave the company an “outperform” rating in a research note on Monday, April 28th. Finally, Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th.

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.