Bank of New York Mellon Corp Boosts Holdings in Old Republic International Corporation $ORI

Bank of New York Mellon Corp raised its position in Old Republic International Corporation (NYSE:ORI) by 3.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,241,253 shares of the insurance provider’s stock after acquiring an additional 388,866 shares during the period. Bank of New York Mellon Corp owned approximately 5.03% of Old Republic International worth $488,426,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

Old Republic International Trading Up 2.8%

Shares of NYSE:ORI opened at $41.43 on Friday. 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 has a 50 day moving average of $39.53 and a two-hundred day moving average of $40.65. The company has a market capitalization of $10.06 billion, a PE ratio of 11.11 and a beta of 0.58.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the firm earned $0.81 earnings per share. Old Republic International’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s dividend payout ratio is presently 33.78%.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the sale, the senior vice president directly owned 32,261 shares in the company, valued at $1,250,436.36. This trade represents a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by company 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.