Longboard Asset Management LP Makes New $253,000 Investment in Old Republic International Co. (NYSE:ORI)

Longboard Asset Management LP purchased a new position in Old Republic International Co. (NYSE:ORI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,985 shares of the insurance provider's stock, valued at approximately $253,000. Old Republic International accounts for approximately 0.7% of Longboard Asset Management LP's holdings, making the stock its 17th biggest position.

Other institutional investors also recently bought and sold shares of the company. Dupree Financial Group LLC boosted its holdings in shares of Old Republic International by 0.8% in the 4th quarter. Dupree Financial Group LLC now owns 208,384 shares of the insurance provider's stock valued at $7,541,000 after acquiring an additional 1,679 shares during the last quarter. Golden State Equity Partners lifted its position in Old Republic International by 20.3% during the fourth quarter. Golden State Equity Partners now owns 18,271 shares of the insurance provider's stock valued at $661,000 after purchasing an additional 3,086 shares during the period. Berry Wealth Group LP boosted its holdings in Old Republic International by 5.2% in the fourth quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider's stock valued at $226,000 after purchasing an additional 310 shares during the last quarter. Everett Harris & Co. CA acquired a new stake in Old Republic International during the 4th quarter worth about $243,000. Finally, Saxony Capital Management LLC purchased a new position in shares of Old Republic International during the 4th quarter valued at about $205,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

ORI stock traded down $0.19 during midday trading on Friday, hitting $36.57. 629,929 shares of the stock traded hands, compared to its average volume of 1,176,169. Old Republic International Co. has a 1-year low of $27.19 and a 1-year high of $39.27. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The stock's fifty day simple moving average is $36.23 and its 200-day simple moving average is $35.70. The firm has a market cap of $9.27 billion, a P/E ratio of 13.90 and a beta of 0.88.

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, 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 expect that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, January 3rd. Old Republic International's payout ratio is 40.30%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Jeffrey Lange sold 1,098 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the firm'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 value of $333,983.80. Following the completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ORI. Piper Sandler upped their target price on Old Republic International from $36.00 to $37.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. StockNews.com lowered Old Republic International from a "strong-buy" rating to a "buy" rating in a research report on Saturday, February 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.