Woodley Farra Manion Portfolio Management Inc. bought a new stake in Old Republic International Corporation (NYSE:ORI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 104,194 shares of the insurance provider's stock, valued at approximately $4,086,000.
Several other hedge funds have also made changes to their positions in ORI. Northern Trust Corp lifted its holdings in 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 valued at $114,940,000 after acquiring an additional 400,384 shares during the period. Bank of New York Mellon Corp lifted its stake 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 valued at $114,453,000 after purchasing an additional 100,264 shares during the period. Norges Bank purchased a new stake in Old Republic International during the fourth quarter worth about $105,581,000. Invesco Ltd. grew its position in Old Republic International by 26.4% during the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after buying an additional 490,788 shares during the period. Finally, AQR Capital Management LLC increased its holdings in 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 valued at $68,219,000 after buying an additional 49,160 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.
Old Republic International Price Performance
Shares of ORI stock traded down $0.29 during trading hours on Friday, hitting $35.88. The company's stock had a trading volume of 1,220,295 shares, compared to its average volume of 1,657,409. The company has a current ratio of 0.63, a quick ratio of 0.24 and a debt-to-equity ratio of 0.26. The business has a fifty day moving average of $37.23 and a 200-day moving average of $37.24. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $39.84. The stock has a market cap of $8.87 billion, a price-to-earnings ratio of 12.29 and a beta of 0.74.
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, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%. The firm's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.
Old Republic International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is currently 39.73%.
Analysts Set New Price Targets
ORI has been the topic of several research analyst reports. Wall Street Zen lowered Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Piper Sandler dropped their price target on Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research report on Friday, July 25th.
Read Our Latest Analysis on ORI
Old Republic International Company Profile
(
Free Report)
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.
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