Charles Schwab Investment Management Inc. Boosts Stake in Old Republic International Corporation (NYSE:ORI)

Charles Schwab Investment Management Inc. lifted its stake in Old Republic International Corporation (NYSE:ORI) by 0.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,695,466 shares of the insurance provider’s stock after purchasing an additional 4,286 shares during the period. Charles Schwab Investment Management Inc. owned 0.69% of Old Republic International worth $66,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Old Republic International by 4.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock worth $23,143,000 after purchasing an additional 23,775 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Old Republic International by 304.7% in the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider’s stock worth $607,000 after purchasing an additional 11,534 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Old Republic International by 4,738.8% in the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider’s stock worth $8,500,000 after purchasing an additional 212,251 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Old Republic International by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after purchasing an additional 100,264 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Old Republic International by 336.1% in the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider’s stock worth $980,000 after purchasing an additional 19,254 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Up 0.1%

Shares of NYSE:ORI opened at $38.72 on Friday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $39.84. The company has a 50-day moving average price of $37.17 and a 200 day moving average price of $37.34. The company has a market cap of $9.62 billion, a price-to-earnings ratio of 13.26 and a beta of 0.74.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, equities research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business 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. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is 39.73%.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 6,849 shares of the firm’s stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the transaction, the senior vice president directly owned 35,755 shares of the company’s stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

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

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.