WBI Investments LLC Purchases New Shares in Old Republic International Co. (NYSE:ORI)

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

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fairway Wealth LLC purchased a new stake in Old Republic International in the fourth quarter worth about $29,000. SBI Securities Co. Ltd. purchased a new stake in Old Republic International in the fourth quarter worth about $34,000. Core Alternative Capital purchased a new stake in Old Republic International in the fourth quarter worth about $36,000. Synergy Asset Management LLC purchased a new stake in Old Republic International in the fourth quarter worth about $39,000. Finally, Crews Bank & Trust purchased a new stake in Old Republic International in the fourth quarter worth about $40,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ORI. Wall Street Zen raised Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th. Raymond James set a $42.00 target price on Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Piper Sandler set a $42.00 target price on Old Republic International in a research report on Friday, April 25th.

Old Republic International Trading Down 0.9%

Shares of Old Republic International stock traded down $0.32 on Thursday, reaching $37.26. The company had a trading volume of 1,095,610 shares, compared to its average volume of 1,198,403. The firm has a market cap of $9.21 billion, a price-to-earnings ratio of 14.17 and a beta of 0.74. 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 firm's 50-day moving average price is $37.78 and its two-hundred day moving average price is $37.07. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84.

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

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.11%. The ex-dividend date was Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is presently 47.15%.

Insider Transactions at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the sale, the chief executive officer now owns 138,222 shares in the company, valued at $5,335,369.20. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction on 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 in the company, valued at $1,336,521.90. The trade was a 22.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,354 shares of company stock valued at $1,602,871. Company insiders own 1.10% of the company's stock.

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.