Informed Momentum Co LLC Takes $4.47 Million Position in Old Republic International Corporation (NYSE:ORI)

Key Points

• Informed Momentum Co LLC has acquired a new stake in Old Republic International Corporation, purchasing 113,938 shares valued at approximately $4.47 million, making it the 25th largest holding in its portfolio.
• Old Republic International reported a quarterly earnings per share (EPS) of $0.83, exceeding analysts' expectations of $0.79, alongside a revenue increase of 10.1% year-over-year.
• The company recently declared a quarterly dividend of $0.29 per share, reflecting an annualized dividend yield of 3.1% and a payout ratio of 39.73%.

Informed Momentum Co LLC purchased a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 113,938 shares of the insurance provider's stock, valued at approximately $4,469,000. Old Republic International makes up 0.8% of Informed Momentum Co LLC's investment portfolio, making the stock its 25th biggest holding.

Other large investors have also modified their holdings of the company. Nuveen LLC purchased a new position in shares of Old Republic International in the 1st quarter worth approximately $31,866,000. Invesco Ltd. grew its position in shares of Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after buying an additional 490,788 shares during the last quarter. GW&K Investment Management LLC grew its position in shares of Old Republic International by 44.4% in the 1st quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock worth $56,322,000 after buying an additional 441,799 shares during the last quarter. Northern Trust Corp grew its position in shares of Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after buying an additional 400,384 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of Old Republic International by 93.8% in the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after buying an additional 398,531 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Performance

NYSE:ORI traded up $0.05 during trading hours on Thursday, hitting $38.72. 1,006,930 shares of the company were exchanged, compared to its average volume of 1,324,165. The stock has a market capitalization of $9.62 billion, a price-to-earnings ratio of 13.26 and a beta of 0.74. 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 0.25. The company's 50 day moving average price is $37.17 and its 200-day moving average price is $37.34.

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 the consensus estimate of $0.79 by $0.04. The business had revenue of $2.21 billion for 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 firm's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Friday, June 6th. Old Republic International's payout ratio is currently 39.73%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ORI shares. 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. Piper Sandler cut their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.10% of the stock is currently owned by corporate insiders.

Old Republic International 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.