Fox Run Management L.L.C. Takes $506,000 Position in Old Republic International Corporation $ORI

Key Points

• Fox Run Management L.L.C. has invested approximately $506,000 in Old Republic International Corporation by acquiring 12,891 shares of its stock.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, with a dividend yield of 3.0% and a payout ratio of 39.73%.
• The company reported an earnings per share (EPS) of $0.83, exceeding the market's expectations and indicating a 10.1% year-over-year revenue growth.

Fox Run Management L.L.C. acquired a new position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 12,891 shares of the insurance provider's stock, valued at approximately $506,000.

Several other institutional investors have also recently made changes to their positions in the company. Hamlin Capital Management LLC grew its position in Old Republic International by 1.6% during the first quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider's stock valued at $203,603,000 after buying an additional 79,796 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Old Republic International by 83.2% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 22,702 shares of the insurance provider's stock valued at $890,000 after acquiring an additional 10,312 shares during the period. Leith Wheeler Investment Counsel Ltd. increased its stake in shares of Old Republic International by 1.3% in the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 290,008 shares of the insurance provider's stock valued at $11,374,000 after purchasing an additional 3,629 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Old Republic International by 19.0% in the 1st quarter. Russell Investments Group Ltd. now owns 88,747 shares of the insurance provider's stock valued at $3,480,000 after purchasing an additional 14,167 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. raised its holdings in Old Republic International by 1.9% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 32,085 shares of the insurance provider's stock worth $1,258,000 after purchasing an additional 605 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of NYSE:ORI traded up $0.4750 during midday trading on Friday, hitting $39.8750. The company's stock had a trading volume of 676,464 shares, compared to its average volume of 1,326,563. The company has a market cap of $9.91 billion, a P/E ratio of 13.66 and a beta of 0.74. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $40.20. The business's 50 day simple moving average is $37.36 and its 200 day simple moving average is $37.41. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates 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 company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. The company's revenue was up 10.1% on a year-over-year basis. On average, analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

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

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler cut their price objective on Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Old Republic International has a consensus rating of "Buy" and an average price target of $41.50.

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.