AQR Capital Management LLC Purchases 1,827,180 Shares of Old Republic International Corporation $ORI

Key Points

• AQR Capital Management LLC has increased its stake in Old Republic International Corporation by 96.9%, acquiring a total of 3,712,191 shares, valued at approximately $145.5 million.
• The company's stock opened at $40.33 on Thursday, with a market capitalization of $10.02 billion and a PE ratio of 13.81.
• Old Republic International declared a quarterly dividend of $0.29 per share, representing a 2.9% dividend yield and a payout ratio of 39.73%.

AQR Capital Management LLC lifted its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 96.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,712,191 shares of the insurance provider's stock after buying an additional 1,827,180 shares during the period. AQR Capital Management LLC owned approximately 1.50% of Old Republic International worth $145,481,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HWG Holdings LP purchased a new position in Old Republic International in the first quarter valued at about $25,000. 1 North Wealth Services LLC acquired a new stake in Old Republic International in the 1st quarter valued at approximately $29,000. Quarry LP increased its position in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 731 shares during the period. Alpine Bank Wealth Management bought a new position in Old Republic International during the 1st quarter valued at $31,000. Finally, Wayfinding Financial LLC bought a new position in Old Republic International during the 1st quarter valued at $34,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler raised their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $43.50.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, Director Therace Risch bought 1,500 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the transaction, the director owned 9,625 shares of the company's stock, valued at approximately $384,037.50. The trade was a 18.46% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president owned 35,755 shares of the company's stock, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Old Republic International Trading Down 1.7%

ORI stock traded down $0.68 during trading on Friday, hitting $40.41. The company had a trading volume of 1,173,846 shares, compared to its average volume of 1,152,149. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $37.94 and a 200-day moving average price of $37.70. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $41.15. The stock has a market cap of $10.04 billion, a price-to-earnings ratio of 13.84 and a beta of 0.78.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International's payout ratio is presently 39.73%.

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.