Millennium Management LLC Grows Stock Holdings in Old Republic International Co. (NYSE:ORI)

Millennium Management LLC increased its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 93.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 823,500 shares of the insurance provider's stock after acquiring an additional 398,531 shares during the quarter. Millennium Management LLC owned about 0.32% of Old Republic International worth $29,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Atomi Financial Group Inc. raised its stake in Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider's stock worth $279,000 after acquiring an additional 302 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Old Republic International by 37.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider's stock worth $2,595,000 after acquiring an additional 19,400 shares in the last quarter. Orca Wealth Management LLC acquired a new stake in Old Republic International during the 4th quarter worth $5,209,000. Plato Investment Management Ltd acquired a new stake in Old Republic International during the 4th quarter worth $362,000. Finally, A&I Financial Services LLC acquired a new stake in Old Republic International during the 4th quarter worth $497,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ORI shares. Piper Sandler set a $42.00 price target on shares of Old Republic International in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 price objective on shares of Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th.

Insider Transactions at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the sale, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. The trade was a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the sale, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,354 shares of company stock worth $1,602,871 over the last ninety days. 1.10% of the stock is currently owned by company insiders.

Old Republic International Stock Performance

NYSE ORI traded up $0.17 during trading on Friday, reaching $37.43. The company's stock had a trading volume of 986,655 shares, compared to its average volume of 1,198,288. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The firm has a market cap of $9.25 billion, a price-to-earnings ratio of 14.23 and a beta of 0.74. Old Republic International Co. has a twelve month low of $29.51 and a twelve month high of $39.84. The business's fifty day moving average price is $37.78 and its 200-day moving average price is $37.09.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Old Republic International's quarterly revenue was up 11.4% on a year-over-year basis. As a group, analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. Old Republic International's dividend payout ratio (DPR) is 47.15%.

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.