First Trust Advisors LP Acquires 545,803 Shares of Old Republic International Corporation $ORI

Key Points

• First Trust Advisors LP boosted its Old Republic stake by 30.6%, buying 545,803 shares in Q3 to hold 2,331,577 shares (about 0.94% of the company) worth roughly $99.0 million.
• Other institutions significantly increased exposure — Thrivent raised its holding by 2,840.8% to 3.93M shares (~$166.8M), Norges Bank opened a ~$115M stake, and AQR and LSV also added, leaving institutional ownership at 70.92%.
• Old Republic missed quarterly EPS estimates ($0.74 vs. $0.89) but raised its quarterly dividend to $0.315 (annualized $1.26, ~3.1% yield); analysts carry a consensus "Moderate Buy" rating with a $42.50 target.

First Trust Advisors LP grew its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 30.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,331,577 shares of the insurance provider's stock after purchasing an additional 545,803 shares during the quarter. First Trust Advisors LP owned approximately 0.94% of Old Republic International worth $99,022,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in shares of Old Republic International by 2,840.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider's stock worth $166,763,000 after buying an additional 3,793,085 shares during the last quarter. Norges Bank purchased a new stake in Old Republic International during the second quarter worth about $115,071,000. AQR Capital Management LLC increased its holdings in Old Republic International by 55.7% during the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider's stock worth $221,457,000 after buying an additional 2,066,965 shares during the last quarter. LSV Asset Management raised its position in Old Republic International by 43.7% in the second quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider's stock worth $103,877,000 after acquiring an additional 821,975 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in Old Republic International in the second quarter worth about $27,289,000. 70.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Eric Smith purchased 1,135 shares of the business's stock in a transaction dated Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, with a total value of $48,918.50. Following the completion of the acquisition, the director directly owned 4,276 shares of the company's stock, valued at approximately $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company's stock.

Old Republic International Price Performance

NYSE ORI opened at $40.85 on Tuesday. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market cap of $10.04 billion, a PE ratio of 12.05 and a beta of 0.73. Old Republic International Corporation has a 52 week low of $34.43 and a 52 week high of $46.76. The firm's 50-day simple moving average is $41.97 and its two-hundred day simple moving average is $42.32.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earnings per share. Research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Old Republic International's previous quarterly dividend of $0.29. Old Republic International's payout ratio is presently 34.22%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ORI shares. Piper Sandler reissued a "neutral" rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Weiss Ratings cut shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, February 27th. Finally, Zacks Research downgraded Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $42.50.

Old Republic International Company 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. 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.

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