Principal Financial Group Inc. Boosts Stock Holdings in Old Republic International Corporation $ORI

Principal Financial Group Inc. boosted its position in Old Republic International Corporation (NYSE:ORI) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 508,492 shares of the insurance provider’s stock after purchasing an additional 18,942 shares during the period. Principal Financial Group Inc. owned about 0.21% of Old Republic International worth $20,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB raised its stake in shares of Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after buying an additional 222 shares in the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Old Republic International by 5.0% in the 4th quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock valued at $247,000 after buying an additional 257 shares during the period. waypoint wealth counsel boosted its stake in shares of Old Republic International by 3.3% in the fourth quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider’s stock valued at $383,000 after buying an additional 265 shares in the last quarter. Mainsail Asset Management LLC boosted its stake in shares of Old Republic International by 5.9% in the fourth quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock valued at $246,000 after buying an additional 300 shares in the last quarter. Finally, Quest Investment Management LLC grew its holdings in Old Republic International by 1.0% during the third quarter. Quest Investment Management LLC now owns 32,091 shares of the insurance provider’s stock worth $1,363,000 after acquiring an additional 303 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

ORI has been the subject of several research analyst reports. Raymond James Financial set a $44.00 price objective on Old Republic International in a research report on Monday, April 27th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Piper Sandler boosted their target price on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research 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 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

Old Republic International Price Performance

ORI stock opened at $41.94 on Wednesday. The firm has a 50 day moving average of $39.71 and a 200-day moving average of $40.57. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 11.24 and a beta of 0.58. 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.

Old Republic International (NYSE:ORI) last released its quarterly 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 firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The business’s revenue was up 6.7% on a year-over-year basis. As a group, equities analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

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

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.