Old Republic International Co. (NYSE:ORI) Shares Purchased by Squarepoint Ops LLC

Squarepoint Ops LLC increased its stake in shares of Old Republic International Co. (NYSE:ORI) by 315.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,430 shares of the insurance provider’s stock after acquiring an additional 121,807 shares during the quarter. Squarepoint Ops LLC’s holdings in Old Republic International were worth $5,806,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fairway Wealth LLC acquired a new stake in Old Republic International during the 4th quarter worth $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Old Republic International during the fourth quarter worth about $34,000. Core Alternative Capital purchased a new position in shares of Old Republic International during the fourth quarter worth about $36,000. Synergy Asset Management LLC purchased a new position in shares of Old Republic International during the fourth quarter worth about $39,000. Finally, Crews Bank & Trust purchased a new position in shares of Old Republic International during the fourth quarter worth about $40,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of ORI opened at $37.43 on Friday. Old Republic International Co. has a twelve month low of $29.51 and a twelve month high of $39.84. The stock’s 50 day moving average is $37.78 and its two-hundred day moving average is $37.09. The firm has a market capitalization of $9.25 billion, a PE ratio of 14.23 and a beta of 0.74. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

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

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.10%. Old Republic International’s payout ratio is 47.15%.

Insider Activity

In other news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the sale, the chief executive officer now owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. The trade was a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,354 shares of company stock worth $1,602,871. Company insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ORI shares. Wall Street Zen raised Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Raymond James set a $42.00 price target on Old Republic International and gave the stock an “outperform” rating in a report on Monday, April 28th. Finally, Piper Sandler set a $42.00 price target on Old Republic International in a report on Friday, April 25th.

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 Republic Financial Indemnity Group Run-off Business.