Old Republic International Corporation $ORI Shares Acquired by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its position in Old Republic International Corporation (NYSE:ORI) by 32.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,079,217 shares of the insurance provider’s stock after purchasing an additional 261,470 shares during the period. Gotham Asset Management LLC’s holdings in Old Republic International were worth $49,255,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORI. Vanguard Group Inc. increased its position in shares of Old Republic International by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock valued at $1,081,745,000 after purchasing an additional 123,954 shares during the period. Bank of New York Mellon Corp boosted its stake in Old Republic International by 230.6% during the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after buying an additional 8,266,829 shares in the last quarter. AQR Capital Management LLC grew its holdings in Old Republic International by 30.7% during the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after acquiring an additional 1,774,807 shares during the period. Dimensional Fund Advisors LP grew its holdings in Old Republic International by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock worth $285,268,000 after acquiring an additional 116,549 shares during the period. Finally, Geode Capital Management LLC raised its position in Old Republic International by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock worth $190,870,000 after acquiring an additional 72,857 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the transaction, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

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

Old Republic International Price Performance

ORI stock opened at $38.73 on Thursday. Old Republic International Corporation has a one year low of $35.60 and a one year high of $46.76. The firm has a 50-day moving average of $39.54 and a two-hundred day moving average of $41.28. The firm has a market capitalization of $9.40 billion, a PE ratio of 10.38 and a beta of 0.59. 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 released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. On average, analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.3%. Old Republic International’s dividend payout ratio is presently 33.78%.

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.