Dark Forest Capital Management LP Buys 30,315 Shares of Old Republic International Co. (NYSE:ORI)

Dark Forest Capital Management LP boosted its position in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 220.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,059 shares of the insurance provider's stock after purchasing an additional 30,315 shares during the period. Dark Forest Capital Management LP's holdings in Old Republic International were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of ORI. Atomi Financial Group Inc. lifted its position in shares of Old Republic International by 4.1% in the fourth quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider's stock worth $279,000 after purchasing an additional 302 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Old Republic International by 37.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider's stock valued at $2,595,000 after buying an additional 19,400 shares during the last quarter. Orca Wealth Management LLC bought a new stake in Old Republic International during the 4th quarter worth about $5,209,000. JPMorgan Chase & Co. boosted its stake in shares of Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock worth $30,160,000 after buying an additional 42,934 shares during the last quarter. Finally, Plato Investment Management Ltd bought a new position in shares of Old Republic International in the 4th quarter valued at about $362,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Insider Buying and Selling at Old Republic International

In other news, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International 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 directly owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. 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 in the last three months. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on ORI. StockNews.com lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler increased their price objective on Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st.

Old Republic International Price Performance

NYSE:ORI opened at $37.99 on Wednesday. Old Republic International Co. has a 12-month low of $28.65 and a 12-month high of $39.84. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 14.44 and a beta of 0.68. The stock's 50 day moving average price is $37.44 and its two-hundred day moving average price is $36.70. 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 (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, beating 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, analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current 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 issued a dividend of $0.29 per share. This is an increase from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.05%. Old Republic International's payout ratio is presently 44.11%.

Old Republic International Company 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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