Resona Asset Management Co. Ltd. Acquires Shares of 31,480 Old Republic International Co. (NYSE:ORI)

Resona Asset Management Co. Ltd. bought a new position in shares of Old Republic International Co. (NYSE:ORI - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,480 shares of the insurance provider's stock, valued at approximately $1,139,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its position in Old Republic International by 3.1% in the third quarter. HighTower Advisors LLC now owns 49,609 shares of the insurance provider's stock worth $1,767,000 after acquiring an additional 1,476 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Old Republic International by 1.4% in the third quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider's stock valued at $1,236,000 after acquiring an additional 495 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of Old Republic International by 99.2% in the third quarter. Kovitz Investment Group Partners LLC now owns 22,432 shares of the insurance provider's stock valued at $766,000 after acquiring an additional 11,169 shares in the last quarter. EP Wealth Advisors LLC increased its position in Old Republic International by 35.1% during the 3rd quarter. EP Wealth Advisors LLC now owns 13,061 shares of the insurance provider's stock worth $463,000 after purchasing an additional 3,394 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd raised its stake in Old Republic International by 40.7% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 22,764 shares of the insurance provider's stock valued at $806,000 after purchasing an additional 6,589 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Trading Up 0.9 %

Shares of ORI stock traded up $0.36 during trading hours on Wednesday, hitting $38.11. 134,412 shares of the company were exchanged, compared to its average volume of 1,239,607. The firm has a fifty day moving average of $37.30 and a 200 day moving average of $36.62. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 1 year low of $28.59 and a 1 year high of $39.84. The firm has a market cap of $9.42 billion, a PE ratio of 14.49 and a beta of 0.68.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Analysts expect that Old Republic International Co. will post 3.17 earnings per share 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 given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend 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 44.11%.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 9,188 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total transaction of $333,983.80. Following the completion of the sale, the senior vice president now directly owns 33,556 shares in the company, valued at $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the firm's 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 transaction, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,039 shares of company stock worth $1,580,733 over the last three months. 1.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ORI has been the subject of a number of recent research reports. StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler boosted their price target on Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st.

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.