Numerai GP LLC Purchases New Position in Old Republic International Co. (NYSE:ORI)

Numerai GP LLC purchased a new stake in Old Republic International Co. (NYSE:ORI) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 16,035 shares of the insurance provider’s stock, valued at approximately $580,000.

Other large investors have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new position in Old Republic International in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new stake in Old Republic International in the 4th quarter valued at about $34,000. Core Alternative Capital purchased a new stake in Old Republic International in the 4th quarter valued at about $36,000. Synergy Asset Management LLC purchased a new stake in Old Republic International in the 4th quarter valued at about $39,000. Finally, Crews Bank & Trust purchased a new stake in Old Republic International in the 4th quarter valued at about $40,000. Institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 10,601 shares of the business’s 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 completion of the transaction, the senior vice president now owns 35,755 shares of the company’s stock, valued at approximately $1,336,521.90. The trade was a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the business’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 transaction of $1,002,180.50. Following the transaction, the vice president now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 43,354 shares of company stock worth $1,602,871. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Trading Down 1.0%

NYSE:ORI opened at $37.33 on Thursday. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.23 billion, a PE ratio of 14.19 and a beta of 0.74. The firm’s 50 day moving average is $37.64 and its 200 day moving average is $36.94. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84.

Old Republic International (NYSE:ORI) last released 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 net margin of 10.36% and a return on equity of 20.32%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.11%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. Old Republic International’s payout ratio is currently 47.15%.

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.