Gotham Asset Management LLC Buys 98,780 Shares of Old Republic International Corporation $ORI

Key Points

• Gotham Asset Management LLC increased its holdings in Old Republic International Corporation (ORI) by 24.4%, owning 503,261 shares valued at approximately $19.74 million after acquiring an additional 98,780 shares in the first quarter.
• The company recently announced a quarterly dividend of $0.29 per share, with an annualized yield of 2.9%, to be paid on September 15th.
• Old Republic International's stock has received a consensus rating of "Buy" among analysts, with an average target price of $43.50, indicating positive outlook despite some downgrades from certain firms.

Gotham Asset Management LLC raised its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 24.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 503,261 shares of the insurance provider's stock after acquiring an additional 98,780 shares during the quarter. Gotham Asset Management LLC owned about 0.20% of Old Republic International worth $19,738,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP bought a new position in Old Republic International in the first quarter valued at approximately $25,000. 1 North Wealth Services LLC bought a new position in Old Republic International in the first quarter valued at approximately $29,000. Quarry LP raised its holdings in Old Republic International by 6,645.5% in the first quarter. Quarry LP now owns 742 shares of the insurance provider's stock worth $29,000 after purchasing an additional 731 shares during the period. Alpine Bank Wealth Management acquired a new stake in Old Republic International in the first quarter worth $31,000. Finally, N.E.W. Advisory Services LLC acquired a new stake in Old Republic International in the first quarter worth $35,000. 70.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ORI shares. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler raised their price objective on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $43.50.

Old Republic International Stock Up 0.7%

Old Republic International stock traded up $0.30 during mid-day trading on Thursday, reaching $40.24. The company's stock had a trading volume of 254,891 shares, compared to its average volume of 1,306,523. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 13.78 and a beta of 0.78. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $41.15. The business's 50 day simple moving average is $38.06 and its 200 day simple moving average is $37.77. 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 earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

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

Insider Activity

In other news, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was bought at an average price of $39.90 per share, with a total value of $59,850.00. Following the transaction, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. The trade was a 18.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

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.