GSA Capital Partners LLP Takes $577,000 Position in Old Republic International Corporation (NYSE:ORI)

Key Points

• GSA Capital Partners LLP acquired 14,700 shares of Old Republic International Corporation, valued at approximately $577,000, during the first quarter of the year.
• Old Republic International reported a 10.1% increase in quarterly revenue, reaching $2.21 billion, and earnings per share of $0.83, beating analysts' expectations.
• The company recently declared a quarterly dividend of $0.29 per share, yielding 3.2%, with a payout ratio of 39.73%.

GSA Capital Partners LLP purchased a new position in Old Republic International Corporation (NYSE:ORI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,700 shares of the insurance provider's stock, valued at approximately $577,000.

Several other hedge funds have also modified their holdings of the stock. HWG Holdings LP acquired a new stake in shares of Old Republic International during the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management bought a new position in shares of Old Republic International in the first quarter valued at about $31,000. Wayfinding Financial LLC acquired a new position in Old Republic International in the 1st quarter valued at $34,000. N.E.W. Advisory Services LLC bought a new position in shares of Old Republic International during the first quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. acquired a new stake in Old Republic International during the first quarter worth about $36,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the topic of several recent research reports. Raymond James Financial set a $42.00 target price on Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th. Piper Sandler dropped their price objective on Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 25th. Finally, Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.

Old Republic International Price Performance

Shares of ORI stock traded down $0.23 on Thursday, hitting $37.10. 632,130 shares of the stock traded hands, compared to its average volume of 1,328,116. The firm has a market cap of $9.22 billion, a price-to-earnings ratio of 12.70 and a beta of 0.74. The firm has a 50 day simple moving average of $37.15 and a two-hundred day simple moving average of $37.27. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $39.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.24.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm's revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the 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 $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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.