Redwood Investment Management LLC Acquires 94,503 Shares of Old Republic International Co. (NYSE:ORI)

Redwood Investment Management LLC raised its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 202.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,230 shares of the insurance provider's stock after acquiring an additional 94,503 shares during the quarter. Redwood Investment Management LLC owned approximately 0.06% of Old Republic International worth $5,111,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ORI. Fairway Wealth LLC purchased a new position in Old Republic International in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in shares of Old Republic International in the 4th quarter worth approximately $34,000. Core Alternative Capital bought a new position in shares of Old Republic International during the 4th quarter worth approximately $36,000. Synergy Asset Management LLC purchased a new stake in Old Republic International during the fourth quarter valued at approximately $39,000. Finally, Crews Bank & Trust acquired a new stake in Old Republic International in the fourth quarter valued at approximately $40,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Craig R. Smiddy sold 5,296 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Trading Down 1.0%

Shares of Old Republic International stock opened at $37.33 on Thursday. The firm's 50 day simple moving average is $37.64 and its two-hundred day simple moving average is $36.94. The firm has a market capitalization of $9.23 billion, a price-to-earnings ratio of 14.19 and a beta of 0.74. Old Republic International Co. has a 12-month low of $29.51 and a 12-month high of $39.84. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $2.06 billion for 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 was up 11.4% on a year-over-year basis. Analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently declared 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 annualized dividend and a yield of 3.11%. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's payout ratio is presently 47.15%.

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.

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