Wealth Enhancement Advisory Services LLC Increases Stock Position in Old Republic International Corporation $ORI

Wealth Enhancement Advisory Services LLC raised its position in Old Republic International Corporation (NYSE:ORI) by 8.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 708,917 shares of the insurance provider’s stock after acquiring an additional 57,728 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Old Republic International were worth $30,159,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its holdings in shares of Old Republic International by 2,840.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after purchasing an additional 3,793,085 shares during the period. Norges Bank purchased a new position in Old Republic International during the 2nd quarter valued at about $115,071,000. AQR Capital Management LLC increased its holdings in Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after purchasing an additional 2,066,965 shares during the period. Captrust Financial Advisors raised its position in Old Republic International by 98.0% during the 3rd quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after purchasing an additional 1,582,895 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in Old Republic International in the 2nd quarter worth approximately $27,289,000. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Up 2.4%

Shares of NYSE:ORI opened at $39.17 on Wednesday. The firm has a market capitalization of $9.62 billion, a P/E ratio of 11.55 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50 day moving average price of $41.06 and a 200-day moving average price of $42.27. Old Republic International Corporation has a 52-week low of $34.43 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the previous year, the firm earned $0.90 earnings per share. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were given a dividend of $0.315 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. Old Republic International’s dividend payout ratio is 37.17%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ORI shares. Weiss Ratings raised Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 13th. Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Monday. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Old Republic International presently has an average rating of “Buy” and a consensus price target of $42.50.

Insider Activity

In other news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the transaction, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Eric Smith purchased 1,135 shares of the company’s stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the transaction, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.10% of the company’s stock.

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.