Maridea Wealth Management LLC Purchases Shares of 7,428 Old Republic International Co. (NYSE:ORI)

Maridea Wealth Management LLC bought a new stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 7,428 shares of the insurance provider's stock, valued at approximately $269,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Old Republic International during the 4th quarter valued at approximately $105,581,000. Raymond James Financial Inc. acquired a new stake in shares of Old Republic International during the fourth quarter worth approximately $67,054,000. JPMorgan Chase & Co. increased its stake in shares of Old Republic International by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider's stock worth $32,249,000 after buying an additional 39,620 shares during the last quarter. Systematic Financial Management LP raised its holdings in Old Republic International by 9.6% in the third quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider's stock valued at $31,268,000 after acquiring an additional 77,583 shares in the last quarter. Finally, Boston Financial Mangement LLC boosted its stake in Old Republic International by 1.2% during the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider's stock valued at $28,416,000 after acquiring an additional 9,011 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction dated 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 sale, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the transaction, the chief executive officer now owns 138,222 shares of the company's stock, valued at $5,335,369.20. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,039 shares of company stock valued at $1,580,733 in the last ninety days. Company insiders own 1.00% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ORI shares. Piper Sandler boosted their target price on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Tuesday. StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Old Republic International Stock Performance

Shares of Old Republic International stock traded up $0.42 during trading hours on Tuesday, reaching $39.64. The company's stock had a trading volume of 928,199 shares, compared to its average volume of 1,281,075. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. Old Republic International Co. has a one year low of $28.59 and a one year high of $39.84. The company's 50 day simple moving average is $37.10 and its 200 day simple moving average is $36.47. The stock has a market cap of $9.84 billion, a P/E ratio of 15.07 and a beta of 0.83.

Old Republic International (NYSE:ORI - Get Free Report) last announced 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 return on equity of 20.32% and a net margin of 10.36%. As a group, analysts expect that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a $0.29 dividend. 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. This represents a $1.16 annualized dividend and a yield of 2.93%. Old Republic International's dividend payout ratio (DPR) is currently 44.11%.

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.