Crestline Management LP Grows Position in Old Republic International Co. (NYSE:ORI)

Crestline Management LP lifted its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 90.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,795 shares of the insurance provider's stock after buying an additional 19,347 shares during the quarter. Crestline Management LP's holdings in Old Republic International were worth $1,476,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Cubist Systematic Strategies LLC raised its stake in shares of Old Republic International by 1,424.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 269,848 shares of the insurance provider's stock worth $9,766,000 after buying an additional 252,143 shares during the period. Cetera Investment Advisers raised its stake in Old Republic International by 0.9% in the 4th quarter. Cetera Investment Advisers now owns 103,125 shares of the insurance provider's stock valued at $3,732,000 after purchasing an additional 948 shares during the last quarter. Bramshill Investments LLC acquired a new position in Old Republic International in the 4th quarter valued at $1,427,000. Captrust Financial Advisors raised its stake in Old Republic International by 4.0% in the 4th quarter. Captrust Financial Advisors now owns 78,500 shares of the insurance provider's stock valued at $2,841,000 after purchasing an additional 2,995 shares during the last quarter. Finally, Baird Financial Group Inc. raised its stake in Old Republic International by 2.9% in the 4th quarter. Baird Financial Group Inc. now owns 431,689 shares of the insurance provider's stock valued at $15,623,000 after purchasing an additional 12,344 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. StockNews.com raised Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Piper Sandler set a $42.00 price objective on Old Republic International in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 price objective on Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th.

Old Republic International Trading Down 0.6%

NYSE:ORI traded down $0.21 during trading hours on Tuesday, hitting $37.69. The company had a trading volume of 1,289,417 shares, compared to its average volume of 1,207,775. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The company has a 50-day moving average of $37.64 and a 200 day moving average of $36.94. The company has a market cap of $9.32 billion, a P/E ratio of 14.33 and a beta of 0.74. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Old Republic International's revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.29 dividend. This is a boost from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International's dividend payout ratio is presently 47.15%.

Insider Buying and Selling at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,354 shares of company stock worth $1,602,871 in the last three months. 1.10% of the stock is owned by corporate insiders.

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.