AQR Capital Management LLC boosted its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,885,011 shares of the insurance provider's stock after buying an additional 49,160 shares during the period. AQR Capital Management LLC owned 0.74% of Old Republic International worth $68,219,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Old Republic International during the 3rd quarter worth about $28,000. Fairway Wealth LLC purchased a new position in shares of Old Republic International in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in shares of Old Republic International during the 4th quarter valued at $34,000. Core Alternative Capital acquired a new stake in Old Republic International in the 4th quarter valued at $36,000. Finally, Synergy Asset Management LLC acquired a new position in shares of Old Republic International during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 70.92% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts recently commented on ORI shares. StockNews.com upgraded Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Raymond James set a $42.00 price objective on Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Piper Sandler set a $42.00 target price on Old Republic International in a research note on Friday, April 25th.
Check Out Our Latest Analysis on ORI
Insider Buying and Selling
In related news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction dated 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 of the company's stock, valued at $5,335,369.20. This trade represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 10,601 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president now directly owns 35,755 shares of the company's stock, valued at $1,336,521.90. The trade was a 22.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,354 shares of company stock worth $1,602,871 in the last three months. 1.10% of the stock is owned by insiders.
Old Republic International Stock Down 0.4 %
Shares of ORI stock traded down $0.15 during trading hours on Tuesday, hitting $37.92. 171,108 shares of the company were exchanged, compared to its average volume of 1,217,269. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The stock has a market capitalization of $9.37 billion, a price-to-earnings ratio of 14.43 and a beta of 0.74. Old Republic International Co. has a one year low of $29.51 and a one year high of $39.84. The business's 50-day simple moving average is $37.64 and its two-hundred day simple moving average is $36.84.
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 for the quarter, beating analysts' consensus estimates 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 return on equity of 20.32% and a net margin of 10.36%. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Sell-side analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal year.
Old Republic International Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors 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. The ex-dividend date was Monday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. Old Republic International's dividend payout ratio (DPR) is 47.15%.
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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