Arrowstreet Capital Limited Partnership lowered its position in Old Republic International Co. (NYSE:ORI - Free Report) by 11.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,532,071 shares of the insurance provider's stock after selling 341,710 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.00% of Old Republic International worth $91,636,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Old Republic International in the fourth quarter worth $105,581,000. Raymond James Financial Inc. bought a new stake in shares of Old Republic International during the 4th quarter worth about $67,054,000. Point72 Asset Management L.P. increased its holdings in shares of Old Republic International by 162.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider's stock valued at $21,612,000 after acquiring an additional 377,605 shares during the last quarter. Orca Wealth Management LLC bought a new position in shares of Old Republic International in the 4th quarter valued at approximately $5,209,000. Finally, Wealthfront Advisers LLC acquired a new stake in Old Republic International in the 4th quarter worth approximately $5,409,000. 70.92% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on ORI shares. StockNews.com lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Piper Sandler lifted their target price on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday.
Read Our Latest Stock Analysis on Old Republic International
Insider Buying and Selling
In other Old Republic International news, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction 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 sale, the senior vice president now 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 at this link. Also, VP Thomas Dare sold 27,457 shares of the business'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 sale, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock valued at $1,580,733 over the last three months. 1.00% of the stock is owned by corporate insiders.
Old Republic International Stock Performance
NYSE:ORI traded down $0.46 during mid-day trading on Thursday, hitting $39.33. 1,845,093 shares of the company's stock traded hands, compared to its average volume of 1,279,911. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The firm has a 50 day moving average of $37.25 and a two-hundred day moving average of $36.53. The firm has a market capitalization of $9.76 billion, a price-to-earnings ratio of 14.96 and a beta of 0.83. Old Republic International Co. has a 12 month low of $28.59 and a 12 month high of $39.84.
Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. On average, equities analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.
Old Republic International Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio (DPR) is presently 44.11%.
About Old Republic International
(
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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