Pacer Advisors Inc. Acquires 41,072 Shares of Old Republic International Corporation $ORI

Pacer Advisors Inc. raised its stake in shares of Old Republic International Corporation (NYSE:ORI) by 377.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,952 shares of the insurance provider’s stock after buying an additional 41,072 shares during the period. Pacer Advisors Inc.’s holdings in Old Republic International were worth $2,206,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ORI. Quarry LP increased its holdings in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after acquiring an additional 731 shares during the last quarter. 1 North Wealth Services LLC bought a new stake in Old Republic International during the first quarter worth approximately $29,000. Ameritas Advisory Services LLC acquired a new position in Old Republic International during the second quarter valued at approximately $34,000. Headlands Technologies LLC bought a new position in shares of Old Republic International in the second quarter valued at approximately $46,000. Finally, SBI Securities Co. Ltd. raised its position in shares of Old Republic International by 29.0% in the second quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 274 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the sale, the senior vice president directly owned 29,075 shares in the company, valued at $1,295,000.50. This represents a 18.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Therace Risch purchased 1,000 shares of Old Republic International stock in a transaction that occurred on Monday, November 3rd. The shares were bought at an average price of $39.14 per share, for a total transaction of $39,140.00. Following the transaction, the director owned 10,625 shares in the company, valued at $415,862.50. This represents a 10.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 1.10% of the company’s stock.

Old Republic International Trading Down 0.3%

Old Republic International stock opened at $46.24 on Wednesday. The business has a 50 day moving average price of $43.70 and a two-hundred day moving average price of $40.76. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $46.76. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 15.47 and a beta of 0.77.

Old Republic International (NYSE:ORI) last issued its earnings results on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. As a group, equities analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently announced a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd will be paid a $2.50 dividend. The ex-dividend date is Friday, January 2nd. Old Republic International’s payout ratio is currently 38.80%.

Wall Street Analyst Weigh In

ORI has been the subject of several recent analyst reports. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Piper Sandler boosted their target price on shares of Old Republic International from $46.00 to $51.00 and gave the stock an “overweight” rating in a research report on Monday, December 8th. Finally, Weiss Ratings restated a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $49.00.

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.