Old Republic International Corporation $ORI Stock Position Lifted by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in Old Republic International Corporation by 19.0% during the first quarter, owning 88,747 shares valued at $3,480,000.
• Old Republic International's stock recently reported a 1.3% increase, with a current market value of approximately $9.92 billion and a P/E ratio of 13.67.
• The company has declared a quarterly dividend of $0.29, representing an annualized yield of 2.9% and a payout ratio of 39.73%.

Russell Investments Group Ltd. raised its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,747 shares of the insurance provider's stock after purchasing an additional 14,167 shares during the quarter. Russell Investments Group Ltd.'s holdings in Old Republic International were worth $3,480,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Northern Trust Corp lifted its holdings in shares of Old Republic International by 14.4% in 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 lifted its holdings in shares of Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after buying an additional 100,264 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Old Republic International by 7.3% in the first quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider's stock worth $98,891,000 after buying an additional 171,497 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Old Republic International by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after buying an additional 49,160 shares in the last quarter. Finally, LSV Asset Management increased its position in Old Republic International by 12.9% in the first quarter. LSV Asset Management now owns 1,880,341 shares of the insurance provider's stock worth $73,747,000 after purchasing an additional 214,634 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Buying and Selling at Old Republic International

In other news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the sale, the senior vice president directly 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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ORI. Wall Street Zen cut 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 report on Friday, July 25th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and an average price target of $41.50.

Old Republic International Price Performance

ORI stock traded down $0.40 during midday trading on Thursday, reaching $39.65. The stock had a trading volume of 599,072 shares, compared to its average volume of 1,319,616. The company's fifty day simple moving average is $37.58 and its 200 day simple moving average is $37.51. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market cap of $9.85 billion, a price-to-earnings ratio of 13.57 and a beta of 0.74. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $40.21.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data 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. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The firm's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, sell-side analysts predict 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. Shareholders of record on Friday, September 5th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International's dividend payout ratio is currently 39.73%.

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.