MAI Capital Management purchased a new position in shares of Old Republic International Co. (NYSE:ORI – Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,282 shares of the insurance provider’s stock, valued at approximately $432,000.
Several other institutional investors and hedge funds also recently modified their holdings of ORI. State Street Corp lifted its holdings in Old Republic International by 6.6% in the third quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock worth $542,243,000 after purchasing an additional 1,601,571 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Old Republic International by 6.0% in the 1st quarter. Victory Capital Management Inc. now owns 14,789,846 shares of the insurance provider’s stock worth $369,302,000 after acquiring an additional 839,453 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Old Republic International by 4.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,798,271 shares of the insurance provider’s stock valued at $188,329,000 after acquiring an additional 303,257 shares in the last quarter. Hamlin Capital Management LLC increased its stake in shares of Old Republic International by 3.2% during the first quarter. Hamlin Capital Management LLC now owns 4,846,529 shares of the insurance provider’s stock valued at $121,018,000 after acquiring an additional 152,194 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Old Republic International by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 4,690,892 shares of the insurance provider’s stock worth $113,542,000 after purchasing an additional 96,781 shares in the last quarter. Institutional investors own 70.66% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on ORI shares. Piper Sandler increased their price target on Old Republic International from $27.00 to $31.00 in a research note on Friday, July 28th. StockNews.com assumed coverage on Old Republic International in a report on Thursday, August 17th. They set a “buy” rating on the stock.
Insiders Place Their Bets
In other Old Republic International news, EVP Stephen J. Oberst sold 26,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $27.68, for a total value of $733,520.00. Following the completion of the transaction, the executive vice president now directly owns 68,574 shares in the company, valued at $1,898,128.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Barbara Adachi bought 3,620 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were bought at an average cost of $27.64 per share, with a total value of $100,056.80. Following the purchase, the director now directly owns 5,920 shares in the company, valued at $163,628.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 26,500 shares of the stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $27.68, for a total value of $733,520.00. Following the completion of the sale, the executive vice president now owns 68,574 shares of the company’s stock, valued at approximately $1,898,128.32. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Old Republic International Trading Up 1.2 %
Old Republic International stock opened at $27.17 on Thursday. Old Republic International Co. has a 1 year low of $20.27 and a 1 year high of $29.89. The firm’s 50 day moving average price is $26.22 and its two-hundred day moving average price is $25.58. The firm has a market cap of $7.73 billion, a price-to-earnings ratio of 10.29 and a beta of 0.79. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.57 and a current ratio of 0.57.
Old Republic International (NYSE:ORI – Get Free Report) last announced its earnings results on Thursday, July 27th. The insurance provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. Old Republic International had a return on equity of 13.20% and a net margin of 10.18%. The company had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.93 billion. On average, research analysts predict that Old Republic International Co. will post 2.6 EPS for the current fiscal year.
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 the Republic Financial Indemnity Group Run-off Business.
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