Old Republic International Corporation (NYSE:ORI) Shares Bought by Picton Mahoney Asset Management

Key Points

• Picton Mahoney Asset Management dramatically increased its ownership in Old Republic International by 34,733.3% during the first quarter, bringing its total shares to 11,495, valued at approximately $451,000.
• Institutional investors collectively own 70.92% of Old Republic International’s stock, indicating strong interest from large financial entities.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, reflecting an annualized dividend yield of 3.20% with a payout ratio of 39.73%.

Picton Mahoney Asset Management boosted its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 34,733.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,495 shares of the insurance provider's stock after buying an additional 11,462 shares during the quarter. Picton Mahoney Asset Management's holdings in Old Republic International were worth $451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its position in Old Republic International by 9.4% during the 4th quarter. LPL Financial LLC now owns 285,770 shares of the insurance provider's stock valued at $10,342,000 after purchasing an additional 24,573 shares during the period. JPMorgan Chase & Co. increased its position in Old Republic International by 4.7% during the 4th quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider's stock valued at $32,249,000 after purchasing an additional 39,620 shares during the period. Norges Bank purchased a new position in Old Republic International during the 4th quarter valued at about $105,581,000. Pictet Asset Management Holding SA increased its position in Old Republic International by 2.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 34,135 shares of the insurance provider's stock valued at $1,235,000 after purchasing an additional 850 shares during the period. Finally, Summit Financial LLC increased its position in Old Republic International by 6.1% during the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock valued at $218,000 after purchasing an additional 347 shares during the period. Institutional investors own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ORI shares. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler cut their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial set a $42.00 price objective on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th.

Old Republic International Stock Down 0.8%

Shares of Old Republic International stock traded down $0.29 on Friday, reaching $35.88. The stock had a trading volume of 1,220,295 shares, compared to its average volume of 1,657,409. The company has a 50 day moving average price of $37.20 and a 200 day moving average price of $37.25. The company has a quick ratio of 0.24, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 1 year low of $33.00 and a 1 year high of $39.84. The stock has a market capitalization of $8.87 billion, a P/E ratio of 12.29 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last released 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. The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend was Friday, June 6th. Old Republic International's payout ratio is currently 39.73%.

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.