Picton Mahoney Asset Management Purchases 24,653 Shares of Old Republic International Corporation $ORI

Picton Mahoney Asset Management grew its position in shares of Old Republic International Corporation (NYSE:ORI) by 74,706.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,686 shares of the insurance provider’s stock after buying an additional 24,653 shares during the quarter. Picton Mahoney Asset Management’s holdings in Old Republic International were worth $1,049,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SBI Securities Co. Ltd. lifted its position in Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 274 shares in the last quarter. Clearstead Trust LLC raised its stake in shares of Old Republic International by 65.6% in the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 288 shares during the last quarter. Centennial Wealth Advisory LLC lifted its holdings in shares of Old Republic International by 2.3% during the third quarter. Centennial Wealth Advisory LLC now owns 13,099 shares of the insurance provider’s stock valued at $556,000 after purchasing an additional 289 shares in the last quarter. SJS Investment Consulting Inc. lifted its holdings in shares of Old Republic International by 37.1% during the third quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 298 shares in the last quarter. Finally, Sagespring Wealth Partners LLC boosted its position in shares of Old Republic International by 4.3% during the third quarter. Sagespring Wealth Partners LLC now owns 7,826 shares of the insurance provider’s stock valued at $332,000 after buying an additional 322 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling at Old Republic International

In related news, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were bought at an average cost of $43.10 per share, with a total value of $48,918.50. Following the acquisition, the director owned 4,276 shares in the company, valued at $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. This represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Old Republic International Trading Down 0.8%

Shares of NYSE:ORI opened at $42.13 on Friday. The stock’s 50-day simple moving average is $42.18 and its two-hundred day simple moving average is $42.24. The stock has a market capitalization of $10.35 billion, a price-to-earnings ratio of 12.43 and a beta of 0.73. Old Republic International Corporation has a 52-week low of $34.43 and a 52-week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same quarter in the prior year, the firm posted $0.90 earnings per share. Analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be given a $0.315 dividend. The ex-dividend date is Monday, March 9th. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 3.0%. Old Republic International’s payout ratio is 34.22%.

Analyst Ratings Changes

ORI has been the subject of a number of recent analyst reports. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 27th. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Piper Sandler restated a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

About Old Republic International

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.