Old Republic International Corporation $ORI Shares Bought by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC boosted its stake in Old Republic International by 49.4% in the fourth quarter, buying an additional 61,283 shares and bringing its total holdings to 185,258 shares.
• Old Republic International recently reported Q1 EPS of $0.68, below analyst expectations of $0.79, even as revenue came in slightly ahead at $2.40 billion and rose 6.7% year over year.
• The company declared a quarterly dividend of $0.315 per share, payable on June 15, representing an annualized yield of about 3.4%.

Intech Investment Management LLC raised its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 49.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,258 shares of the insurance provider's stock after purchasing an additional 61,283 shares during the quarter. Intech Investment Management LLC owned about 0.07% of Old Republic International worth $8,455,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in ORI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Old Republic International by 30.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider's stock valued at $477,000 after purchasing an additional 2,867 shares during the period. NewEdge Advisors LLC increased its stake in shares of Old Republic International by 121.9% in the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider's stock valued at $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Old Republic International by 122.1% in the first quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider's stock valued at $178,000 after purchasing an additional 2,493 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Old Republic International by 10.3% in the first quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider's stock valued at $62,480,000 after purchasing an additional 148,891 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Old Republic International by 31.8% in the second quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider's stock valued at $323,000 after purchasing an additional 2,028 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Price Performance

NYSE ORI opened at $37.27 on Friday. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $9.05 billion, a PE ratio of 9.99 and a beta of 0.63. The company's 50 day simple moving average is $39.92 and its 200 day simple moving average is $41.90.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. Old Republic International's revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. As a group, equities research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a $0.315 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.4%. Old Republic International's payout ratio is 33.78%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ORI shares. Piper Sandler raised their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Zacks Research lowered shares of Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. Finally, Weiss Ratings lowered shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Republic International currently has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Insider Activity at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the transaction, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith purchased 1,135 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director owned 4,276 shares of the company's stock, valued at $184,295.60. The trade was a 36.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 1.32% of the company's stock.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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