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

Several other hedge funds also recently made changes to their positions in the business. Martingale Asset Management L P boosted its position in Old Republic International by 3.4% in the first quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock valued at $323,000 after buying an additional 269 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Old Republic International by 3.6% in the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after buying an additional 314 shares in the last quarter. Venturi Wealth Management LLC boosted its position in Old Republic International by 1.8% in the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock valued at $747,000 after buying an additional 340 shares in the last quarter. Penbrook Management LLC lifted its holdings in shares of Old Republic International by 5.0% during the first quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock worth $333,000 after purchasing an additional 400 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Old Republic International by 1.3% during the first quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider's stock worth $1,373,000 after purchasing an additional 433 shares during the period. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Up 1.4%

ORI traded up $0.55 during midday trading on Thursday, hitting $40.49. The company had a trading volume of 594,112 shares, compared to its average volume of 1,308,309. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $41.15. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $10.06 billion, a price-to-earnings ratio of 13.87 and a beta of 0.78. The stock's 50 day moving average price is $38.06 and its 200 day moving average price is $37.77.

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

Old Republic International Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ORI. Piper Sandler lifted their price target 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. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Old Republic International has a consensus rating of "Buy" and a consensus price target of $43.50.

Insider Transactions at Old Republic International

In other news, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction dated 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 $1,305,772.60. The trade was a 16.08% 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 insiders.

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.