GDS Wealth Management Invests $1.98 Million in Old Republic International Corporation $ORI

GDS Wealth Management purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the second quarter, Holdings Channel reports. The institutional investor purchased 51,487 shares of the insurance provider’s stock, valued at approximately $1,979,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. 1 North Wealth Services LLC acquired a new position in Old Republic International in the 1st quarter worth about $29,000. Quarry LP boosted its stake in shares of Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 731 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in Old Republic International in the 1st quarter valued at approximately $35,000. Ameritas Advisory Services LLC acquired a new position in Old Republic International in the 2nd quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in Old Republic International in the first quarter valued at $36,000. Institutional investors own 70.92% of the company’s stock.

Insider Transactions at Old Republic International

In other news, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction dated Tuesday, September 2nd. The stock was bought at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the purchase, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This represents a 18.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,680 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $44.54, for a total value of $297,527.20. Following the transaction, the senior vice president directly owned 29,075 shares in the company, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their price target for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Finally, Piper Sandler lowered 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 report on Friday, October 24th. Two 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, the stock presently has an average rating of “Strong Buy” and a consensus price target of $46.50.

Old Republic International Stock Performance

Shares of ORI stock opened at $44.96 on Thursday. The firm has a 50 day moving average of $41.60 and a 200-day moving average of $39.17. The company has a market cap of $11.12 billion, a price-to-earnings ratio of 15.04 and a beta of 0.79. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $45.07.

Old Republic International (NYSE:ORI) last issued its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates 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 forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Company 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.