Cubist Systematic Strategies LLC Grows Position in Old Republic International Co. (NYSE:ORI)

Cubist Systematic Strategies LLC raised its position in shares of Old Republic International Co. (NYSE:ORI) by 1,424.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,848 shares of the insurance provider’s stock after acquiring an additional 252,143 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.11% of Old Republic International worth $9,766,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ORI. Cetera Investment Advisers lifted its position in Old Republic International by 0.9% during the fourth quarter. Cetera Investment Advisers now owns 103,125 shares of the insurance provider’s stock valued at $3,732,000 after purchasing an additional 948 shares during the last quarter. Bramshill Investments LLC bought a new position in shares of Old Republic International in the 4th quarter valued at about $1,427,000. Captrust Financial Advisors lifted its holdings in shares of Old Republic International by 4.0% in the 4th quarter. Captrust Financial Advisors now owns 78,500 shares of the insurance provider’s stock valued at $2,841,000 after acquiring an additional 2,995 shares during the last quarter. Baird Financial Group Inc. grew its position in Old Republic International by 2.9% in the fourth quarter. Baird Financial Group Inc. now owns 431,689 shares of the insurance provider’s stock worth $15,623,000 after acquiring an additional 12,344 shares in the last quarter. Finally, Kapitalo Investimentos Ltda bought a new stake in Old Republic International during the fourth quarter worth approximately $97,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Price Performance

Shares of ORI stock opened at $38.12 on Thursday. The stock has a 50 day moving average price of $37.64 and a 200 day moving average price of $36.86. The firm has a market capitalization of $9.42 billion, a P/E ratio of 14.49 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. Old Republic International Co. has a 52-week low of $29.51 and a 52-week high of $39.84.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The firm had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s payout ratio is currently 47.15%.

Analyst Ratings Changes

A number of equities analysts have recently commented on ORI shares. Piper Sandler set a $42.00 target price on Old Republic International in a report on Friday, April 25th. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 target price on shares of Old Republic International and gave the company an “outperform” rating in a research note on Monday, April 28th.

Insider Activity at Old Republic International

In other news, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president now directly owns 35,755 shares in the company, valued at approximately $1,336,521.90. The trade was a 22.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,354 shares of company stock worth $1,602,871. Company insiders own 1.10% of the company’s stock.

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.