Penserra Capital Management LLC Buys 11,033 Shares of Old Republic International Corporation (NYSE:ORI)

Penserra Capital Management LLC raised its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 142.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,802 shares of the insurance provider's stock after buying an additional 11,033 shares during the period. Penserra Capital Management LLC's holdings in Old Republic International were worth $736,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Northern Trust Corp boosted its holdings in 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 buying an additional 400,384 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Old Republic International by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after purchasing an additional 100,264 shares during the period. Norges Bank acquired a new position in Old Republic International in the 4th quarter worth approximately $105,581,000. Invesco Ltd. boosted its stake in Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after purchasing an additional 490,788 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Old Republic International by 2.7% in the 4th quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after purchasing an additional 49,160 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ORI. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday. 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 note on Monday, April 28th. Finally, Piper Sandler set a $42.00 price objective on shares of Old Republic International in a research note on Friday, April 25th.

Old Republic International Stock Down 0.1%

Shares of NYSE:ORI traded down $0.03 during trading on Friday, reaching $36.60. 1,625,460 shares of the company traded hands, compared to its average volume of 1,216,333. The firm has a fifty day simple moving average of $37.66 and a 200 day simple moving average of $37.13. The firm has a market cap of $9.05 billion, a P/E ratio of 14.88 and a beta of 0.73. Old Republic International Corporation has a 1-year low of $31.36 and a 1-year high of $39.84. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.17%. Old Republic International's dividend payout ratio is currently 47.15%.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction 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 transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.10% of the company's stock.

Old Republic International Company 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.