Old Republic International Corporation $ORI Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in Old Republic International Corporation (NYSE:ORI) by 3.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 508,492 shares of the insurance provider’s stock after purchasing an additional 18,942 shares during the quarter. Principal Financial Group Inc.’s holdings in Old Republic International were worth $20,289,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ORI. V Square Quantitative Management LLC acquired a new position in shares of Old Republic International during the 4th quarter worth approximately $26,000. Torren Management LLC acquired a new stake in Old Republic International during the 4th quarter valued at $27,000. Commonwealth Retirement Investments LLC purchased a new position in Old Republic International during the fourth quarter worth $27,000. JPL Wealth Management LLC purchased a new position in Old Republic International during the third quarter worth $27,000. Finally, Quest 10 Wealth Builders Inc. purchased a new position in Old Republic International during the fourth quarter worth $31,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the transaction, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.32% of the company’s stock.

Old Republic International Stock Down 0.6%

ORI stock opened at $41.94 on Wednesday. The company has a 50 day moving average price of $39.71 and a two-hundred day moving average price of $40.57. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $10.18 billion, a P/E ratio of 11.24 and a beta of 0.58. 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 issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period in the prior year, the company earned $0.81 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, sell-side analysts expect that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.