2,949,895 Shares in Old Republic International Corporation $ORI Acquired by Norges Bank

Norges Bank purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,949,895 shares of the insurance provider’s stock, valued at approximately $134,633,000. Norges Bank owned 1.19% of Old Republic International as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Old Republic International during the 4th quarter valued at about $26,000. Torren Management LLC bought a new stake in Old Republic International during the 4th quarter worth approximately $27,000. JPL Wealth Management LLC acquired a new stake in Old Republic International during the 3rd quarter worth approximately $27,000. Quest 10 Wealth Builders Inc. acquired a new stake in Old Republic International during the 4th quarter worth approximately $31,000. Finally, Clearstead Trust LLC lifted its stake in Old Republic International by 65.6% in the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after buying an additional 288 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of ORI opened at $37.22 on Friday. The company has a market cap of $9.04 billion, a price-to-earnings ratio of 9.98 and a beta of 0.59. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76. The company’s fifty day simple moving average is $39.82 and its 200 day simple moving average is $41.73. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the business earned $0.81 EPS. The business’s revenue was up 6.7% compared to the same quarter last year. On average, research analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.4%. The ex-dividend date is Friday, June 5th. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ORI shares. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Piper Sandler boosted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Old Republic International presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the completion of the transaction, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% 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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.