Leith Wheeler Investment Counsel Ltd. Has $11.07 Million Stock Holdings in Old Republic International Corporation $ORI

Leith Wheeler Investment Counsel Ltd. raised its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 7.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 277,533 shares of the insurance provider’s stock after acquiring an additional 20,324 shares during the period. Old Republic International makes up 0.9% of Leith Wheeler Investment Counsel Ltd.’s holdings, making the stock its 29th largest position. Leith Wheeler Investment Counsel Ltd.’s holdings in Old Republic International were worth $11,074,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ORI. V Square Quantitative Management LLC acquired a new stake in shares of Old Republic International during the fourth quarter worth $26,000. Torren Management LLC bought a new stake in Old Republic International in the fourth quarter valued at about $27,000. Commonwealth Retirement Investments LLC acquired a new position in Old Republic International in the fourth quarter valued at about $27,000. JPL Wealth Management LLC acquired a new position in Old Republic International in the third quarter valued at about $27,000. Finally, Quest 10 Wealth Builders Inc. acquired a new position in Old Republic International in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was 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 directly owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Corporate insiders own 1.32% of the company’s stock.

Old Republic International Stock Performance

ORI stock opened at $42.21 on Tuesday. The business’s 50-day moving average price is $39.65 and its two-hundred day moving average price is $40.60. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm has a market cap of $10.25 billion, a PE ratio of 11.32 and a beta of 0.58. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same period in the previous year, the firm posted $0.81 earnings per share. The firm’s revenue was up 6.7% on a year-over-year basis. As a group, research analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. Old Republic International’s payout ratio is currently 33.78%.

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.