Wedge Capital Management L L P NC Buys 5,764 Shares of Old Republic International Co. (NYSE:ORI)

Wedge Capital Management L L P NC increased its holdings in shares of Old Republic International Co. (NYSE:ORI) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 61,225 shares of the insurance provider’s stock after acquiring an additional 5,764 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Old Republic International were worth $1,800,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Old Republic International by 1,069.4% during the 3rd quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock worth $27,000 after acquiring an additional 909 shares during the last quarter. BKM Wealth Management LLC acquired a new position in Old Republic International in the 4th quarter valued at $29,000. Naples Money Management LLC acquired a new position in Old Republic International in the 4th quarter valued at $34,000. Blue Trust Inc. grew its holdings in Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after buying an additional 526 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Old Republic International by 526.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,321 shares of the insurance provider’s stock valued at $39,000 after buying an additional 1,110 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Old Republic International news, Director Barbara Adachi bought 1,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of $28.60 per share, with a total value of $55,055.00. Following the completion of the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the sale, the senior vice president now owns 35,340 shares of the company’s stock, valued at $979,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Barbara Adachi acquired 1,925 shares of Old Republic International stock in a transaction on Friday, February 16th. The stock was purchased at an average cost of $28.60 per share, with a total value of $55,055.00. Following the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The disclosure for this purchase can be found here. Insiders own 1.00% of the company’s stock.

Old Republic International Stock Performance

NYSE:ORI opened at $30.30 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.25. Old Republic International Co. has a fifty-two week low of $24.03 and a fifty-two week high of $31.22. The company has a market cap of $8.35 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81. The stock has a fifty day moving average price of $29.53 and a 200-day moving average price of $28.87.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 earnings per share for the quarter, missing the consensus estimate of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.95 billion. Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. As a group, equities analysts anticipate that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a $0.265 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 annualized dividend and a dividend yield of 3.50%. Old Republic International’s dividend payout ratio is presently 50.48%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ORI. Piper Sandler upped their price objective on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

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.