Millennium Management LLC Purchases 398,531 Shares of Old Republic International Co. (NYSE:ORI)

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

Several other institutional investors and hedge funds have also recently made changes to their positions in ORI. Parallel Advisors LLC grew its position in Old Republic International by 1.6% in the fourth quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock worth $683,000 after acquiring an additional 290 shares in the last quarter. Venturi Wealth Management LLC boosted its holdings in shares of Old Republic International by 1.6% in the 4th quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider's stock worth $677,000 after purchasing an additional 295 shares in the last quarter. Ironwood Investment Management LLC boosted its holdings in shares of Old Republic International by 1.3% in the 4th quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock worth $850,000 after purchasing an additional 301 shares in the last quarter. Atomi Financial Group Inc. increased its position in shares of 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 valued at $279,000 after purchasing an additional 302 shares during the last quarter. Finally, Berry Wealth Group LP raised its holdings in shares of Old Republic International by 5.2% during the 4th quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider's stock valued at $226,000 after buying an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Activity at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total value 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 trade represents a 3.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,354 shares of company stock worth $1,602,871 in the last three months. 1.10% of the stock is owned by insiders.

Old Republic International Trading Down 0.9%

Shares of ORI traded down $0.32 during trading hours on Thursday, hitting $37.26. The company had a trading volume of 1,095,610 shares, compared to its average volume of 1,199,146. Old Republic International Co. has a 52-week low of $29.51 and a 52-week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock's 50 day moving average price is $37.78 and its 200 day moving average price is $37.05. The firm has a market cap of $9.21 billion, a P/E ratio of 14.17 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The business had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, research analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.11%. This is an increase from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International's payout ratio is presently 47.15%.

Analyst Upgrades and Downgrades

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

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.