GAMMA Investing LLC Acquires 212,251 Shares of Old Republic International Co. (NYSE:ORI)

GAMMA Investing LLC increased its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 4,738.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

Several other institutional investors also recently modified their holdings of the business. Fairway Wealth LLC bought a new stake in Old Republic International during the fourth quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Old Republic International in the fourth quarter worth $34,000. Core Alternative Capital bought a new position in Old Republic International in the fourth quarter worth about $36,000. Whipplewood Advisors LLC bought a new position in Old Republic International in the fourth quarter worth $41,000. Finally, Millstone Evans Group LLC purchased a new position in shares of Old Republic International during the fourth quarter valued at approximately $41,000. 70.92% of the stock is owned by institutional investors.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.10% of the stock is owned by insiders.

Old Republic International Price Performance

NYSE:ORI traded up $0.49 during trading hours on Thursday, hitting $37.21. The company's stock had a trading volume of 1,211,983 shares, compared to its average volume of 1,205,537. The business's 50-day moving average is $37.49 and its two-hundred day moving average is $37.08. Old Republic International Co. has a 52-week low of $29.51 and a 52-week high of $39.84. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The company has a market capitalization of $9.20 billion, a PE ratio of 14.15 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The company's revenue was up 11.4% compared to the same quarter last year. As a group, research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Friday, June 6th. Old Republic International's payout ratio is 47.15%.

Wall Street Analysts Forecast Growth

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

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.