Nuveen Asset Management LLC Raises Stock Holdings in Old Republic International Co. (NYSE:ORI)

Nuveen Asset Management LLC increased its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813,206 shares of the insurance provider's stock after purchasing an additional 8,551 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.32% of Old Republic International worth $29,430,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Fairway Wealth LLC purchased a new stake in shares of Old Republic International during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in Old Republic International in the fourth quarter valued at approximately $34,000. Core Alternative Capital acquired a new stake in Old Republic International in the fourth quarter valued at approximately $36,000. Synergy Asset Management LLC acquired a new stake in Old Republic International in the fourth quarter valued at approximately $39,000. Finally, Crews Bank & Trust acquired a new stake in Old Republic International in the fourth quarter valued at approximately $40,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Piper Sandler set a $42.00 target price on shares of Old Republic International in a research note on Friday, April 25th. Raymond James set a $42.00 price target on Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, StockNews.com upgraded Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Old Republic International Trading Down 2.2%

NYSE ORI opened at $37.57 on Thursday. The company has a fifty day simple moving average of $37.78 and a two-hundred day simple moving average of $37.05. The stock has a market cap of $9.29 billion, a P/E ratio of 14.29 and a beta of 0.74. Old Republic International Co. has a 12-month low of $29.51 and a 12-month high of $39.84. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

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

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.09%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. Old Republic International's dividend payout ratio (DPR) is presently 47.15%.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the sale, the senior vice president now owns 35,755 shares of the company's stock, valued at $1,336,521.90. This trade represents a 22.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction on 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 $5,335,369.20. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,354 shares of company stock worth $1,602,871 over the last three months. 1.10% of the stock is currently owned by insiders.

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.

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