LSV Asset Management Raises Stake in Old Republic International Corporation (NYSE:ORI)

Key Points

• LSV Asset Management increased its stake in Old Republic International Corporation by 12.9%, owning 1,880,341 shares worth $73.7 million after acquiring an additional 214,634 shares.
• Various institutional investors have boosted their positions in Old Republic, with notable increases of 304.7% and 4,738.8% in stakes by Farther Finance Advisors and GAMMA Investing, respectively.
• Old Republic reported a quarterly earnings per share of $0.83, surpassing expectations, and declared a quarterly dividend of $0.29 per share, yielding 3.2% annually.

LSV Asset Management raised its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,880,341 shares of the insurance provider's stock after acquiring an additional 214,634 shares during the period. LSV Asset Management owned approximately 0.76% of Old Republic International worth $73,747,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Northern Trust Corp increased its holdings in Old Republic International by 14.4% in the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after buying an additional 400,384 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Old Republic International by 3.6% during the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after acquiring an additional 100,264 shares during the last quarter. Invesco Ltd. boosted its position in Old Republic International by 26.4% during the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after acquiring an additional 490,788 shares during the last quarter. AQR Capital Management LLC boosted its position in Old Republic International by 2.7% during the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after acquiring an additional 49,160 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its position in Old Republic International by 44.4% during the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock worth $56,322,000 after acquiring an additional 441,799 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Stock Down 0.6%

ORI traded down $0.23 during trading hours on Thursday, hitting $37.09. 40,292 shares of the company's stock were exchanged, compared to its average volume of 1,324,631. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $39.84. The firm has a 50 day moving average of $37.15 and a 200 day moving average of $37.27. The firm has a market cap of $9.22 billion, a P/E ratio of 12.73 and a beta of 0.74. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI - Get Free Report) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.18 billion. The firm's revenue was up 10.1% on a year-over-year basis. Analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Raymond James Financial set a $42.00 target price on shares of Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Piper Sandler reduced their price target on shares of 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.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction on 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 sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company 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.