GAMMA Investing LLC Increases Position in Old Republic International Co. (NYSE:ORI)

GAMMA Investing LLC grew its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 4,738.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 216,730 shares of the insurance provider's stock after buying an additional 212,251 shares during the quarter. GAMMA Investing LLC owned 0.09% of Old Republic International worth $8,500,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ORI. Parallel Advisors LLC boosted its holdings in shares of Old Republic International by 1.6% during the fourth quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock worth $683,000 after purchasing an additional 290 shares during the period. Venturi Wealth Management LLC grew its position in shares of Old Republic International by 1.6% in the 4th quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider's stock worth $677,000 after buying an additional 295 shares during the last quarter. Ironwood Investment Management LLC increased its stake in shares of Old Republic International by 1.3% during the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock valued at $850,000 after buying an additional 301 shares during the period. SPC Financial Inc. lifted its stake in Old Republic International by 1.8% in the fourth quarter. SPC Financial Inc. now owns 18,012 shares of the insurance provider's stock worth $652,000 after acquiring an additional 312 shares during the period. Finally, Summit Financial LLC raised its holdings in Old Republic International by 6.1% in the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock worth $218,000 after purchasing an additional 347 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Raymond James set a $42.00 price target on shares of Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Wall Street Zen upgraded Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Piper Sandler set a $42.00 price target on shares of Old Republic International in a research note on Friday, April 25th.

Old Republic International Stock Down 2.1%

ORI stock traded down $0.78 during trading on Monday, hitting $36.70. 1,346,568 shares of the stock traded hands, compared to its average volume of 1,207,291. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 13.95 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The firm's 50 day moving average is $37.60 and its two-hundred day moving average is $37.11.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates 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 business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. The company's revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is presently 47.15%.

Insider Activity

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the sale, the senior vice president now directly owns 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares of the company's stock, valued at $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.