WBI Investments LLC Buys Shares of 64,064 Old Republic International Co. (NYSE:ORI)

WBI Investments LLC acquired a new stake in Old Republic International Co. (NYSE:ORI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 64,064 shares of the insurance provider's stock, valued at approximately $2,318,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Old Republic International in the 4th quarter valued at about $105,581,000. Raymond James Financial Inc. bought a new position in shares of Old Republic International during the 4th quarter worth approximately $67,054,000. Invesco Ltd. raised its holdings in shares of 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. Northern Trust Corp raised its holdings in shares of Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares during the period. Finally, Millennium Management LLC raised its holdings in shares of Old Republic International by 93.8% in the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after purchasing an additional 398,531 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Trading Up 0.5%

Old Republic International stock traded up $0.17 during mid-day trading on Friday, hitting $37.43. The company's stock had a trading volume of 986,655 shares, compared to its average volume of 1,197,324. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The stock has a market cap of $9.25 billion, a price-to-earnings ratio of 14.23 and a beta of 0.74. The business has a 50 day moving average price of $37.78 and a 200-day moving average price of $37.09. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Old Republic International's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, analysts forecast that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. Old Republic International's dividend payout ratio is currently 47.15%.

Insider Transactions at Old Republic International

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the sale, the senior vice president now owns 35,755 shares of the company's stock, valued at $1,336,521.90. This trade represents a 22.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,354 shares of company stock worth $1,602,871. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of research reports. Raymond James set a $42.00 price target on shares of Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th. Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Finally, Piper Sandler set a $42.00 price target on shares of Old Republic International in a research report on Friday, April 25th.

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.