Pinebridge Investments L.P. Acquires 842 Shares of Old Republic International Co. (NYSE:ORI)

Pinebridge Investments L.P. lifted its holdings in shares of Old Republic International Co. (NYSE:ORI) by 0.7% during the 4th quarter, Holdings Channel reports. The firm owned 113,673 shares of the insurance provider’s stock after purchasing an additional 842 shares during the period. Pinebridge Investments L.P.’s holdings in Old Republic International were worth $4,114,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORI. Parallel Advisors LLC increased its stake 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 worth $683,000 after acquiring an additional 290 shares during the period. Venturi Wealth Management LLC increased its position 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 worth $677,000 after purchasing an additional 295 shares during the period. Ironwood Investment Management LLC raised its stake in Old Republic International by 1.3% in the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider’s stock valued at $850,000 after purchasing an additional 301 shares in the last quarter. Atomi Financial Group Inc. lifted its position in Old Republic International by 4.1% during the fourth 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 stake in Old Republic International by 5.2% during the fourth quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider’s stock worth $226,000 after buying an additional 310 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of ORI stock opened at $37.31 on Friday. The business has a fifty day simple moving average of $37.52 and a 200 day simple moving average of $36.75. The company has a market cap of $9.22 billion, a P/E ratio of 14.19 and a beta of 0.68. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a twelve month low of $29.45 and a twelve month high of $39.84.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. On average, sell-side analysts forecast that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s payout ratio is presently 44.11%.

Insider Transactions at Old Republic International

In related news, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the sale, the senior vice president now owns 34,679 shares in the company, valued at $1,267,864.24. The trade was a 3.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 33,556 shares of the company’s stock, valued at $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ORI shares. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Friday. Piper Sandler boosted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st.

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.