Brandywine Global Investment Management LLC Increases Stock Position in Old Republic International Corporation $ORI

Key Points

• Brandywine Global Investment Management LLC increased its stake in Old Republic International Corporation by 15.9% in the first quarter, acquiring a total of 635,855 shares valued at approximately $24.9 million.
• Old Republic International recently declared a quarterly dividend of $0.29, representing a dividend yield of 3.0% and an annualized amount of $1.16.
• The company's latest quarterly earnings report showed earnings per share of $0.83, beating analysts' expectations and representing a 10.1% year-over-year revenue increase.

Brandywine Global Investment Management LLC raised its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 15.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 635,855 shares of the insurance provider's stock after purchasing an additional 87,398 shares during the period. Brandywine Global Investment Management LLC owned 0.26% of Old Republic International worth $24,938,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new position in shares of Old Republic International in the first quarter worth approximately $31,866,000. GW&K Investment Management LLC boosted its holdings in Old Republic International by 44.4% in the 1st quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock worth $56,322,000 after buying an additional 441,799 shares during the period. Northern Trust Corp grew its position in shares of Old Republic International by 14.4% during the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares in the last quarter. Millennium Management LLC grew its holdings in Old Republic International by 93.8% during the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock valued at $29,802,000 after buying an additional 398,531 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in shares of Old Republic International by 136.5% during the fourth quarter. Voloridge Investment Management LLC now owns 490,263 shares of the insurance provider's stock worth $17,743,000 after acquiring an additional 282,963 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Performance

ORI stock traded up $0.9590 during trading on Tuesday, hitting $38.9990. 1,269,956 shares of the company traded hands, compared to its average volume of 1,330,635. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The stock's 50-day simple moving average is $37.27 and its 200 day simple moving average is $37.38. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $39.84. The company has a market cap of $9.69 billion, a PE ratio of 13.36 and a beta of 0.74.

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

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.0%. Old Republic International's dividend payout ratio (DPR) is presently 39.73%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ORI. Piper Sandler cut their price objective on Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, July 25th. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, 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 research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $41.50.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, the senior vice president owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.10% of the stock is owned by company 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.