Gotham Asset Management LLC Grows Position in Old Republic International Co. (NYSE:ORI)

Gotham Asset Management LLC lifted its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 21.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 404,481 shares of the insurance provider's stock after buying an additional 71,565 shares during the quarter. Gotham Asset Management LLC owned approximately 0.16% of Old Republic International worth $14,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORI. Barclays PLC grew its position in shares of Old Republic International by 51.3% in the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock worth $9,665,000 after buying an additional 92,591 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Old Republic International during the 3rd quarter valued at about $28,000. Franklin Resources Inc. grew its position in Old Republic International by 39.6% during the 3rd quarter. Franklin Resources Inc. now owns 454,792 shares of the insurance provider's stock valued at $16,209,000 after purchasing an additional 128,896 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Old Republic International by 0.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 561,406 shares of the insurance provider's stock valued at $19,885,000 after purchasing an additional 1,999 shares during the last quarter. Finally, Burney Co. grew its position in Old Republic International by 2.2% during the 4th quarter. Burney Co. now owns 98,430 shares of the insurance provider's stock valued at $3,562,000 after purchasing an additional 2,120 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Republic International

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Raymond James set a $42.00 target price on shares of Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Piper Sandler set a $42.00 target price on shares of Old Republic International in a research note on Friday, April 25th. Finally, StockNews.com upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research note on Friday, April 25th.

Old Republic International Stock Performance

Shares of NYSE:ORI traded down $0.37 during trading on Wednesday, hitting $37.33. The company's stock had a trading volume of 1,018,835 shares, compared to its average volume of 1,205,715. The company has a 50-day moving average of $37.64 and a 200-day moving average of $36.94. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84. 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 has a market cap of $9.23 billion, a price-to-earnings ratio of 14.19 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The company had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. The business's revenue was up 11.4% on a year-over-year basis. On average, sell-side analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.29 dividend. This is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date was Monday, March 10th. Old Republic International's payout ratio is currently 47.15%.

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.