Old Republic International Corporation $ORI Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC increased its position in Old Republic International Corporation (NYSE:ORI) by 49.4% in the fourth quarter, HoldingsChannel reports. The firm owned 185,258 shares of the insurance provider’s stock after acquiring an additional 61,283 shares during the period. Intech Investment Management LLC’s holdings in Old Republic International were worth $8,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baker Avenue Asset Management LP boosted its stake in Old Republic International by 6.8% in the 4th quarter. Baker Avenue Asset Management LP now owns 10,949 shares of the insurance provider’s stock worth $500,000 after purchasing an additional 696 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new position in Old Republic International in the 4th quarter worth approximately $404,000. Geode Capital Management LLC boosted its stake in Old Republic International by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock worth $190,870,000 after purchasing an additional 72,857 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Old Republic International by 180.7% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 5,936 shares of the insurance provider’s stock worth $271,000 after purchasing an additional 3,821 shares during the period. Finally, Clearstead Advisors LLC boosted its stake in Old Republic International by 26.5% in the 4th quarter. Clearstead Advisors LLC now owns 10,130 shares of the insurance provider’s stock worth $462,000 after purchasing an additional 2,121 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ORI. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. Finally, Piper Sandler raised their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Republic International has an average rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Trading Down 1.3%

Shares of NYSE:ORI opened at $37.27 on Friday. The firm has a fifty day moving average of $39.92 and a two-hundred day moving average of $41.90. The firm has a market capitalization of $9.05 billion, a P/E ratio of 9.99 and a beta of 0.63. Old Republic International Corporation has a 12-month low of $35.60 and a 12-month high of $46.76. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI) last issued 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). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period last year, the business earned $0.81 EPS. On average, equities analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.4%. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction on Tuesday, May 12th. The shares were 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 owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction 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 purchase, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.32% of the company’s stock.

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.