ExodusPoint Capital Management LP Decreases Stock Holdings in Old Republic International Co. (NYSE:ORI)

ExodusPoint Capital Management LP reduced its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 44.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,025 shares of the insurance provider's stock after selling 79,228 shares during the quarter. ExodusPoint Capital Management LP's holdings in Old Republic International were worth $3,656,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Parallel Advisors LLC raised its holdings in Old Republic International by 1.6% during the 4th quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock valued at $683,000 after buying an additional 290 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Old Republic International by 1.6% in the fourth quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider's stock valued at $677,000 after acquiring an additional 295 shares during the period. Ironwood Investment Management LLC lifted its holdings in shares of Old Republic International by 1.3% in the 4th quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock worth $850,000 after acquiring an additional 301 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Old Republic International by 4.1% during the 4th 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 during the period. Finally, Berry Wealth Group LP grew its holdings in Old Republic International by 5.2% during the 4th 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. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

ORI has been the subject of several analyst reports. Piper Sandler raised 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 lowered Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 9,188 shares of the company'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 sale, the senior vice president now owns 33,556 shares of the company's stock, valued at approximately $1,219,760.60. This represents a 21.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on 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 transaction, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock worth $1,580,733 in the last ninety days. 1.00% of the stock is owned by company insiders.

Old Republic International Trading Up 1.2 %

Shares of ORI traded up $0.45 during trading hours on Friday, reaching $37.03. 1,133,727 shares of the company traded hands, compared to its average volume of 1,282,095. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 14.08 and a beta of 0.68. Old Republic International Co. has a 12-month low of $28.59 and a 12-month high of $39.84. The stock's fifty day moving average price is $37.25 and its 200 day moving average price is $36.59. 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 released its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (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%. Sell-side analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current 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 paid a $0.29 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.16 annualized dividend and a yield of 3.13%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is 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.