67,481 Shares in Old Republic International Corporation $ORI Acquired by Sciencast Management LP

Key Points

• Sciencast Management LP acquired 67,481 shares of Old Republic International Corporation, valued at approximately $2.6 million, during the first quarter of the year.
• Old Republic International recently reported $0.83 EPS for the quarter, exceeding estimates, with revenue of $2.21 billion, marking a 10.1% year-over-year increase.
• The company declared a quarterly dividend of $0.29 per share, representing an annualized yield of 2.9%, with the ex-dividend date set for September 5th.

Sciencast Management LP purchased a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 67,481 shares of the insurance provider's stock, valued at approximately $2,647,000.

Several other large investors also recently made changes to their positions in ORI. Goldman Sachs Group Inc. boosted its holdings 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 acquiring an additional 148,891 shares in the last quarter. Jones Financial Companies Lllp boosted its holdings 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 acquiring an additional 2,493 shares in the last quarter. NewEdge Advisors LLC boosted its holdings 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 acquiring an additional 13,224 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings 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 acquiring an additional 2,867 shares in the last quarter. Finally, Interval Partners LP boosted its holdings in shares of Old Republic International by 68.3% in the first quarter. Interval Partners LP now owns 364,045 shares of the insurance provider's stock valued at $14,278,000 after acquiring an additional 147,792 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 6,849 shares of the firm's stock in a transaction that occurred on 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 transaction, the senior vice president owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was purchased at an average cost of $39.90 per share, with a total value of $59,850.00. Following the purchase, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company's stock.

Old Republic International Price Performance

NYSE:ORI traded down $0.28 during trading hours on Friday, reaching $40.29. 1,020,222 shares of the company's stock were exchanged, compared to its average volume of 1,157,922. The company has a market capitalization of $10.01 billion, a P/E ratio of 13.80 and a beta of 0.78. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $41.15. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The business's 50-day simple moving average is $38.11 and its two-hundred day simple moving average is $37.82.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, topping analysts' consensus estimates 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%. The firm's revenue was up 10.1% compared to the same quarter last year. Sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. Old Republic International's dividend payout ratio (DPR) is currently 39.73%.

Analyst Ratings Changes

ORI has been the subject of several recent analyst reports. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Piper Sandler increased their price objective on shares of Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Old Republic International presently has an average rating of "Buy" and an average price target of $43.50.

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.