Massachusetts Financial Services Co. MA Buys Shares of 32,403 Old Republic International Co. (NYSE:ORI)

Massachusetts Financial Services Co. MA purchased a new stake in Old Republic International Co. (NYSE:ORI - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 32,403 shares of the insurance provider's stock, valued at approximately $1,173,000.

Several other hedge funds have also bought and sold shares of ORI. Franklin Resources Inc. lifted its position in shares of Old Republic International by 15.4% in the fourth quarter. Franklin Resources Inc. now owns 525,004 shares of the insurance provider's stock worth $19,000,000 after buying an additional 70,212 shares in the last quarter. Rodgers Brothers Inc. raised its holdings in shares of Old Republic International by 115.6% during the 4th quarter. Rodgers Brothers Inc. now owns 160,300 shares of the insurance provider's stock worth $5,801,000 after acquiring an additional 85,950 shares in the last quarter. Summit Financial LLC boosted its position in shares of Old Republic International by 6.1% during the 4th quarter. Summit Financial LLC now owns 6,017 shares of the insurance provider's stock valued at $218,000 after acquiring an additional 347 shares during the last quarter. Maridea Wealth Management LLC purchased a new position in shares of Old Republic International in the fourth quarter valued at $269,000. Finally, denkapparat Operations GmbH bought a new stake in Old Republic International in the fourth quarter worth $259,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Buying and Selling at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction dated 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 of the company's stock, valued at $1,219,760.60. The trade was a 21.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 in the last quarter. 1.00% of the stock is owned by insiders.

Remove Ads

Old Republic International Trading Up 1.0 %

ORI traded up $0.39 during trading on Monday, reaching $37.45. The company had a trading volume of 49,272 shares, compared to its average volume of 1,276,336. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The business has a 50 day simple moving average of $37.25 and a 200-day simple moving average of $36.60. The stock has a market cap of $9.26 billion, a P/E ratio of 14.24 and a beta of 0.68. Old Republic International Co. has a 52 week low of $28.59 and a 52 week high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, beating 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 anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.10%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's payout ratio is presently 44.11%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ORI. Piper Sandler lifted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. StockNews.com cut Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

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.