Squarepoint Ops LLC Grows Stock Position in Old Republic International Corporation $ORI

Key Points

• Squarepoint Ops LLC increased its Old Republic International stake by 574.7% in the second quarter, ending with 107,899 shares valued at approximately $4.4 million. Institutional investors collectively own 70.92% of ORI.
• Analyst sentiment remains positive, with MarketBeat reporting a “Moderate Buy” consensus and a $41.50 average price target. Recent ratings included upgrades from Zacks Research and Weiss Ratings, while Piper Sandler maintained a neutral rating.
• Old Republic reported quarterly revenue of $2.50 billion, up 5.2% year over year, but earnings of $0.76 per share fell short of the $0.79 estimate. The company also declared a quarterly dividend of $0.315 per share, representing a 3.1% annualized yield.

Squarepoint Ops LLC increased its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 574.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,899 shares of the insurance provider's stock after purchasing an additional 91,908 shares during the quarter. Squarepoint Ops LLC's holdings in Old Republic International were worth $4,415,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Jefferies Financial Group Inc. purchased a new stake in shares of Old Republic International during the fourth quarter worth approximately $2,592,000. Bank of New York Mellon Corp purchased a new position in Old Republic International in the second quarter worth approximately $491,660,000. Intech Investment Management LLC lifted its stake in Old Republic International by 49.4% in the fourth quarter. Intech Investment Management LLC now owns 185,258 shares of the insurance provider's stock worth $8,455,000 after acquiring an additional 61,283 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Old Republic International during the 4th quarter worth approximately $2,157,000. Finally, Gabelli Funds LLC grew its holdings in Old Republic International by 72.3% during the 4th quarter. Gabelli Funds LLC now owns 68,050 shares of the insurance provider's stock worth $3,106,000 after acquiring an additional 28,550 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ORI. Zacks Research upgraded shares of Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Piper Sandler lowered their target price on shares of Old Republic International from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. Finally, Weiss Ratings raised Old Republic International from a "buy (b)" rating to a "buy (b+)" rating in a report on Thursday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $41.50.

Old Republic International Stock Performance

Shares of ORI opened at $41.01 on Friday. The stock has a 50 day moving average price of $42.17 and a 200 day moving average price of $40.75. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $9.90 billion, a price-to-earnings ratio of 9.69 and a beta of 0.57. Old Republic International Corporation has a 52-week low of $36.65 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.03). Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The company had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the business posted $0.81 EPS. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Research analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, September 4th. Old Republic International's dividend payout ratio (DPR) is 29.79%.

Insider Activity at Old Republic International

In related news, EVP Stephen Oberst sold 13,125 shares of Old Republic International stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares in the company, valued at $3,613,731.80. This trade represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Carolyn Monroe sold 4,386 shares of the business's stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $42.01, for a total transaction of $184,255.86. Following the completion of the sale, the senior vice president directly owned 27,875 shares of the company's stock, valued at approximately $1,171,028.75. This trade represents a 13.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,374 shares of company stock valued at $1,452,714 in the last ninety days. Insiders own 1.32% of the company's stock.

Old Republic International Profile

Old Republic International Corporation NYSE: ORI is an insurance holding company headquartered in Chicago, Illinois. Through its subsidiaries, the company provides property and casualty insurance, title insurance and related services, and mortgage guaranty insurance, primarily serving businesses, real estate professionals, lenders and individual policyholders.

Old Republic's general insurance operations offer commercial insurance products such as workers' compensation, commercial automobile, general and professional liability, property, inland marine, aviation, transportation, and surety coverage.

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