AlphaCore Capital LLC Acquires Shares of 21,118 Old Republic International Corporation $ORI

AlphaCore Capital LLC bought a new position in Old Republic International Corporation (NYSE:ORI) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 21,118 shares of the insurance provider’s stock, valued at approximately $964,000.

A number of other institutional investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new stake in shares of Old Republic International during the fourth quarter valued at approximately $26,000. Torren Management LLC bought a new position in Old Republic International in the fourth quarter worth approximately $27,000. JPL Wealth Management LLC purchased a new position in Old Republic International during the 3rd quarter worth $27,000. Clearstead Trust LLC increased its holdings in Old Republic International by 65.6% during the 3rd 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 period. Finally, Quest 10 Wealth Builders Inc. bought a new stake in Old Republic International during the 4th quarter valued at $31,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Trading Up 1.8%

Shares of NYSE:ORI opened at $40.04 on Tuesday. The company has a market capitalization of $9.72 billion, a PE ratio of 10.73 and a beta of 0.63. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12-month low of $35.60 and a 12-month high of $46.76. The business’s fifty day simple moving average is $40.18 and its 200-day simple moving average is $41.98.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data 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 company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the company earned $0.81 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities research analysts predict that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a $0.315 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. Old Republic International’s payout ratio is presently 33.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Raymond James Financial set a $44.00 target price on Old Republic International in a report on Monday, April 27th. Piper Sandler lifted their price objective on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Old Republic International presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Activity at Old Republic International

In other news, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average price of $43.10 per share, with a total value of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. The trade was a 36.13% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total transaction of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 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.