Geode Capital Management LLC Purchases 96,781 Shares of Old Republic International Co. (NYSE:ORI)

Posted by on Jun 8th, 2023

Geode Capital Management LLC raised its position in Old Republic International Co. (NYSE:ORI – Get Rating) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,690,892 shares of the insurance provider’s stock after buying an additional 96,781 shares during the quarter. Geode Capital Management LLC owned about 1.54% of Old Republic International worth $113,542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Belpointe Asset Management LLC bought a new stake in shares of Old Republic International during the 4th quarter valued at approximately $28,000. Atlas Capital Advisors LLC bought a new stake in shares of Old Republic International during the 2nd quarter valued at approximately $34,000. Align Wealth Management LLC bought a new stake in shares of Old Republic International during the 4th quarter valued at approximately $42,000. Hollencrest Capital Management bought a new stake in shares of Old Republic International during the 4th quarter valued at approximately $58,000. Finally, Zions Bancorporation N.A. acquired a new stake in Old Republic International during the 1st quarter worth approximately $59,000. 70.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Tuesday. Piper Sandler began coverage on shares of Old Republic International in a research report on Wednesday, May 17th. They set a “neutral” rating and a $27.00 target price on the stock.

Old Republic International Stock Up 2.0 %

Old Republic International stock opened at $25.47 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 0.25. Old Republic International Co. has a 12-month low of $20.27 and a 12-month high of $26.72. The firm’s fifty day moving average is $25.09 and its 200 day moving average is $24.92. The company has a market capitalization of $7.46 billion, a PE ratio of 12.93 and a beta of 0.80.

Old Republic International Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Monday, June 5th will be paid a dividend of $0.244 per share. The ex-dividend date is Friday, June 2nd. This represents a $0.98 dividend on an annualized basis and a yield of 3.83%. Old Republic International’s dividend payout ratio (DPR) is presently 49.75%.

Old Republic International Company Profile

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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 the Republic Financial Indemnity Group Run-off Business.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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