Cubist Systematic Strategies LLC Increases Stake in Old Republic International Co. (NYSE:ORI)

Cubist Systematic Strategies LLC raised its position in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 1,424.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 269,848 shares of the insurance provider's stock after acquiring an additional 252,143 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.11% of Old Republic International worth $9,766,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ORI. Cetera Investment Advisers boosted its position in shares of Old Republic International by 0.9% during the fourth 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 in the last quarter. Bramshill Investments LLC bought a new stake in shares of Old Republic International during the 4th quarter valued at $1,427,000. Captrust Financial Advisors grew its position in shares of Old Republic International by 4.0% in the 4th quarter. Captrust Financial Advisors now owns 78,500 shares of the insurance provider's stock worth $2,841,000 after buying an additional 2,995 shares during the period. Baird Financial Group Inc. increased its stake in shares of 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 worth $15,623,000 after acquiring an additional 12,344 shares in the last quarter. Finally, Kapitalo Investimentos Ltda purchased a new position in Old Republic International during the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Activity

In other Old Republic International news, CEO Craig R. Smiddy sold 5,296 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now directly owns 138,222 shares in the company, valued at $5,335,369.20. The trade was a 3.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,354 shares of company stock valued at $1,602,871 over the last three months. Insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on ORI shares. Piper Sandler set a $42.00 price objective on shares of Old Republic International in a report on Friday, April 25th. Raymond James set a $42.00 price target on Old Republic International and gave the stock an "outperform" rating in a research note on Monday, April 28th. Finally, StockNews.com upgraded Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Old Republic International Stock Down 0.6 %

Shares of NYSE ORI traded down $0.21 during midday trading on Friday, hitting $37.89. The stock had a trading volume of 1,080,126 shares, compared to its average volume of 1,208,240. The business's 50 day moving average is $37.63 and its 200-day moving average is $36.90. Old Republic International Co. has a 52 week low of $29.51 and a 52 week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.37 billion, a P/E ratio of 14.41 and a beta of 0.74.

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

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.29 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.06%. Old Republic International's payout ratio is currently 47.15%.

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.