Norges Bank Buys Shares of 2,917,395 Old Republic International Co. (NYSE:ORI)

Norges Bank acquired a new stake in Old Republic International Co. (NYSE:ORI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,917,395 shares of the insurance provider's stock, valued at approximately $105,581,000. Norges Bank owned 1.15% of Old Republic International as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ORI. Cerity Partners LLC boosted its holdings in Old Republic International by 11.4% during the third quarter. Cerity Partners LLC now owns 14,052 shares of the insurance provider's stock worth $498,000 after buying an additional 1,434 shares in the last quarter. Bank of Montreal Can grew its position in shares of Old Republic International by 36.1% during the 3rd quarter. Bank of Montreal Can now owns 63,083 shares of the insurance provider's stock valued at $2,232,000 after acquiring an additional 16,744 shares during the period. BNP Paribas Financial Markets increased its stake in shares of Old Republic International by 138.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,403 shares of the insurance provider's stock valued at $1,431,000 after purchasing an additional 23,471 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Old Republic International by 1.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 61,701 shares of the insurance provider's stock worth $2,185,000 after purchasing an additional 968 shares during the period. Finally, Rockefeller Capital Management L.P. purchased a new position in Old Republic International during the third quarter worth approximately $378,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

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Insider Activity at Old Republic International

In other Old Republic International news, 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 transaction, the senior vice president now directly owns 33,556 shares of the company's stock, valued at $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were 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 of the company's stock, valued at approximately $1,267,864.24. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,039 shares of company stock valued at $1,580,733. Corporate insiders own 1.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. StockNews.com downgraded Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler upped 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 report on Tuesday, April 1st.

Old Republic International Price Performance

NYSE:ORI traded down $3.07 during trading hours on Friday, hitting $36.29. 1,773,712 shares of the stock were exchanged, compared to its average volume of 1,280,735. The firm's fifty day moving average price is $37.31 and its 200 day moving average price is $36.57. Old Republic International Co. has a 52-week low of $28.59 and a 52-week high of $39.84. The company has a market cap of $8.97 billion, a P/E ratio of 13.80 and a beta of 0.68. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data 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 return on equity of 20.32% and a net margin of 10.36%. As a group, equities research 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 declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. Old Republic International's payout ratio is presently 44.11%.

Old Republic International 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.