Bridgewater Associates LP Grows Stock Position in Old Republic International Co. (NYSE:ORI)

Bridgewater Associates LP raised its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 84.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 299,095 shares of the insurance provider's stock after acquiring an additional 136,504 shares during the period. Bridgewater Associates LP owned approximately 0.12% of Old Republic International worth $10,824,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Old Republic International during the fourth quarter worth $105,581,000. Raymond James Financial Inc. purchased a new stake in Old Republic International during the fourth quarter worth about $67,054,000. Invesco Ltd. grew its holdings in shares of Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after purchasing an additional 490,788 shares in the last quarter. Orca Wealth Management LLC acquired a new stake in Old Republic International during the 4th quarter worth approximately $5,209,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Old Republic International in the fourth quarter worth $5,409,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Up 2.5 %

ORI stock traded up $0.93 during midday trading on Tuesday, reaching $37.63. 78,037 shares of the company were exchanged, compared to its average volume of 1,253,560. The stock's 50-day simple moving average is $37.41 and its 200 day simple moving average is $36.69. Old Republic International Co. has a 1-year low of $28.65 and a 1-year high of $39.84. 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 company has a market cap of $9.30 billion, a price-to-earnings ratio of 14.32 and a beta of 0.68.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. On average, equities analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently disclosed 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 is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International's dividend payout ratio (DPR) is presently 44.11%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler raised their price target on Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st.

Insider Activity

In other news, SVP Jeffrey Lange sold 1,098 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 46,556 shares of the company's stock, valued at $1,699,294. This represents a 37.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,039 shares of company stock valued at $1,580,733. Insiders own 1.10% of the company's stock.

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.