Assetmark Inc. Increases Stock Holdings in Old Republic International Corporation (NYSE:ORI)

Assetmark Inc. grew its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 9.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 125,139 shares of the insurance provider's stock after acquiring an additional 10,902 shares during the quarter. Assetmark Inc. owned about 0.05% of Old Republic International worth $4,908,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Old Republic International in the 4th quarter valued at about $105,581,000. Invesco Ltd. raised its position in shares of Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after buying an additional 490,788 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Old Republic International by 44.4% in the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock valued at $56,322,000 after buying an additional 441,799 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Old Republic International by 14.4% during the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after buying an additional 400,384 shares during the period. Finally, Millennium Management LLC boosted its position in Old Republic International by 93.8% during the fourth quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after acquiring an additional 398,531 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ORI shares. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Raymond James Financial set a $42.00 price objective on Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Piper Sandler dropped their target price on Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 25th.

Old Republic International Trading Down 1.1%

Shares of ORI stock traded down $0.38 during trading hours on Friday, hitting $35.79. 320,346 shares of the company were exchanged, compared to its average volume of 1,327,998. The firm has a fifty day moving average of $37.23 and a 200 day moving average of $37.24. The company has a quick ratio of 0.24, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $39.84. The firm has a market cap of $8.85 billion, a PE ratio of 12.26 and a beta of 0.73.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS 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 analyst estimates of $2.18 billion. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. Analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 6th. Old Republic International's payout ratio is 39.73%.

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.