Jacobs Levy Equity Management Inc. Acquires 224,209 Shares of Old Republic International Corporation $ORI

Key Points

• Jacobs Levy Equity Management Inc. increased its holdings in Old Republic International Corporation (NYSE:ORI) by 184.8%, owning 345,546 shares valued at approximately $13.55 million following additional purchases in the first quarter.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, representing an annualized dividend yield of 2.9%, with the ex-dividend date set for September 5th.
• Analysts have mixed views on ORI’s stock, with Piper Sandler raising the price target to $45 while Wall Street Zen downgraded it from a "buy" to a "hold" rating, though the consensus rating remains a "buy" with an average price target of $43.50.

Jacobs Levy Equity Management Inc. lifted its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 184.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 345,546 shares of the insurance provider's stock after acquiring an additional 224,209 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.14% of Old Republic International worth $13,552,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ORI. HWG Holdings LP purchased a new position in shares of Old Republic International in the first quarter worth approximately $25,000. 1 North Wealth Services LLC acquired a new stake in Old Republic International in the first quarter valued at approximately $29,000. Quarry LP lifted its stake in Old Republic International by 6,645.5% in the first quarter. Quarry LP now owns 742 shares of the insurance provider's stock valued at $29,000 after acquiring an additional 731 shares during the last quarter. Alpine Bank Wealth Management acquired a new stake in Old Republic International in the first quarter valued at approximately $31,000. Finally, Wayfinding Financial LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $34,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Old Republic International Trading Down 0.5%

Shares of ORI stock traded down $0.19 on Friday, reaching $40.38. The company had a trading volume of 272,370 shares, compared to its average volume of 1,306,452. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The stock has a market cap of $10.03 billion, a PE ratio of 13.83 and a beta of 0.78. The company has a 50-day moving average of $38.09 and a 200-day moving average of $37.80. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $41.15.

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

Old Republic International Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ORI shares. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler upped their target price on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $43.50.

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.