Fifth Third Bancorp Raises Holdings in Old Republic International Corporation $ORI

Fifth Third Bancorp increased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 2,582.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,584 shares of the insurance provider’s stock after acquiring an additional 75,654 shares during the period. Fifth Third Bancorp’s holdings in Old Republic International were worth $3,136,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Old Republic International by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock worth $477,000 after buying an additional 2,867 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Old Republic International by 121.9% during the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock worth $944,000 after acquiring an additional 13,224 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Old Republic International by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after acquiring an additional 2,493 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Old Republic International by 10.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock valued at $62,480,000 after acquiring an additional 148,891 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,028 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of NYSE ORI opened at $42.19 on Monday. The firm has a 50-day simple moving average of $39.59 and a 200-day simple moving average of $40.63. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 11.31 and a beta of 0.58. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76.

Old Republic International (NYSE:ORI) last released its 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 during the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the business earned $0.81 earnings per share. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities 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 business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, June 5th were paid a $0.315 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

Analyst Ratings Changes

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

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value 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 represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by corporate insiders.

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. 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.