Naples Money Management LLC Invests $34,000 in Old Republic International Co. (NYSE:ORI)

Naples Money Management LLC purchased a new position in shares of Old Republic International Co. (NYSE:ORI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,173 shares of the insurance provider’s stock, valued at approximately $34,000.

A number of other large investors also recently modified their holdings of the business. Norges Bank acquired a new position in shares of Old Republic International in the fourth quarter valued at $68,927,000. Cowa LLC raised its stake in shares of Old Republic International by 10,030.0% in the first quarter. Cowa LLC now owns 2,825,961 shares of the insurance provider’s stock valued at $731,000 after purchasing an additional 2,798,064 shares in the last quarter. State Street Corp raised its stake in shares of Old Republic International by 6.6% in the third quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock valued at $542,243,000 after purchasing an additional 1,601,571 shares in the last quarter. UBS Group AG raised its stake in shares of Old Republic International by 1,208.9% in the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after purchasing an additional 1,395,849 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its stake in shares of Old Republic International by 124.0% in the first quarter. Allianz Asset Management GmbH now owns 1,974,899 shares of the insurance provider’s stock valued at $51,091,000 after purchasing an additional 1,093,287 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Trading Up 2.2 %

Shares of ORI opened at $29.76 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.25. Old Republic International Co. has a 12-month low of $24.03 and a 12-month high of $31.22. The firm has a market capitalization of $8.20 billion, a PE ratio of 14.17 and a beta of 0.81. The stock’s fifty day simple moving average is $29.43 and its 200-day simple moving average is $28.78.

Old Republic International (NYSE:ORI) last released its earnings results 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). Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. As a group, research analysts predict that Old Republic International Co. will post 2.7 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.56%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s dividend payout ratio (DPR) is currently 50.48%.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the sale, the senior vice president now owns 35,340 shares of the company’s stock, valued at $979,271.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Barbara Adachi acquired 1,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased at an average price of $28.60 per share, with a total value of $55,055.00. Following the completion of the acquisition, the director now owns 7,845 shares of the company’s stock, valued at approximately $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ORI shares. Piper Sandler upped their price target on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a research 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.