Cambria Investment Management L.P. Purchases 229,254 Shares of Old Republic International Corporation $ORI

Cambria Investment Management L.P. raised its position in shares of Old Republic International Corporation (NYSE:ORI) by 1,962.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,935 shares of the insurance provider’s stock after buying an additional 229,254 shares during the quarter. Cambria Investment Management L.P.’s holdings in Old Republic International were worth $10,233,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB raised its holdings 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 acquiring an additional 222 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the last quarter. Centennial Wealth Advisory LLC grew its holdings in shares of Old Republic International by 2.3% in 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. grew its holdings in shares of Old Republic International by 37.1% in 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, Quest Investment Management LLC increased its position in Old Republic International by 1.0% in the third quarter. Quest Investment Management LLC now owns 32,091 shares of the insurance provider’s stock worth $1,363,000 after purchasing an additional 303 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ORI. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Weiss Ratings upgraded shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday, March 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Old Republic International Trading Down 2.2%

NYSE ORI opened at $39.33 on Thursday. The stock has a market cap of $9.66 billion, a PE ratio of 11.60 and a beta of 0.73. Old Republic International Corporation has a 12 month low of $34.43 and a 12 month high of $46.76. The company’s 50-day moving average price is $41.39 and its 200-day moving average price is $42.31. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27.

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

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.315 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s payout ratio is presently 37.17%.

Insider Activity at Old Republic International

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

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.