Cerity Partners LLC raised its position in Old Republic International Co. (NYSE:ORI - Free Report) by 115.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,212 shares of the insurance provider's stock after buying an additional 16,160 shares during the quarter. Cerity Partners LLC's holdings in Old Republic International were worth $1,090,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Old Republic International in the fourth quarter valued at approximately $105,581,000. Raymond James Financial Inc. acquired a new stake in shares of Old Republic International during the 4th quarter worth $67,054,000. Orca Wealth Management LLC acquired a new stake in shares of Old Republic International during the 4th quarter worth $5,209,000. Wealthfront Advisers LLC bought a new position in shares of Old Republic International in the fourth quarter worth $5,409,000. Finally, Franklin Resources Inc. raised its stake in Old Republic International by 39.6% in the third 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 in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.
Old Republic International Price Performance
Shares of ORI stock traded up $0.31 on Thursday, hitting $38.28. 164,261 shares of the company's stock were exchanged, compared to its average volume of 1,248,650. Old Republic International Co. has a 12 month low of $28.65 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 company has a 50 day moving average of $37.47 and a 200 day moving average of $36.71. The stock has a market cap of $9.46 billion, a P/E ratio of 14.55 and a beta of 0.68.
Old Republic International (NYSE:ORI - Get Free Report) last posted 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%. On average, equities research analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.
Old Republic International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's payout ratio is presently 44.11%.
Insider Transactions at Old Republic International
In related news, SVP Jeffrey Lange sold 1,098 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the sale, the senior vice president now owns 34,679 shares in the company, valued at $1,267,864.24. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the completion of the transaction, the senior vice president now owns 33,556 shares of the company's stock, valued at $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.10% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on ORI. StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st.
Read Our Latest Report on ORI
Old Republic International 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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