Bayforest Capital Ltd Purchases 2,577 Shares of Old Republic International Corporation $ORI

Bayforest Capital Ltd increased its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 740.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,925 shares of the insurance provider’s stock after purchasing an additional 2,577 shares during the quarter. Bayforest Capital Ltd’s holdings in Old Republic International were worth $115,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Martingale Asset Management L P lifted its stake in shares of Old Republic International by 3.4% during the 1st quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider’s stock worth $323,000 after buying an additional 269 shares during the last quarter. Atria Wealth Solutions Inc. increased its position in Old Republic International by 3.6% during the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider’s stock worth $355,000 after acquiring an additional 314 shares during the period. Venturi Wealth Management LLC increased its position in Old Republic International by 1.8% during the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider’s stock worth $747,000 after acquiring an additional 340 shares during the period. Penbrook Management LLC increased its holdings in Old Republic International by 5.0% in the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider’s stock valued at $333,000 after buying an additional 400 shares during the period. Finally, Deutsche Bank AG increased its holdings in Old Republic International by 1.3% in the 1st quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider’s stock valued at $1,373,000 after buying an additional 433 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ORI shares. Piper Sandler lifted their target price on shares of Old Republic International from $41.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 2nd. Wall Street Zen downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.50.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Therace Risch bought 1,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were acquired at an average cost of $39.90 per share, with a total value of $59,850.00. Following the acquisition, the director directly owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Old Republic International Stock Down 0.7%

Shares of NYSE ORI opened at $40.29 on Friday. The stock has a market capitalization of $10.01 billion, a P/E ratio of 13.80 and a beta of 0.78. Old Republic International Corporation has a one year low of $33.00 and a one year high of $41.15. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The firm’s 50 day simple moving average is $38.11 and its two-hundred day simple moving average is $37.82.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The company’s quarterly revenue was up 10.1% on a year-over-year basis. As a group, analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio (DPR) is currently 39.73%.

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.