Tidal Investments LLC Purchases 5,042 Shares of Old Republic International Co. (NYSE:ORI)

Tidal Investments LLC increased its position in Old Republic International Co. (NYSE:ORI) by 8.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,944 shares of the insurance provider’s stock after buying an additional 5,042 shares during the quarter. Tidal Investments LLC’s holdings in Old Republic International were worth $2,459,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Barclays PLC increased its position in Old Republic International by 51.3% in the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider’s stock valued at $9,665,000 after acquiring an additional 92,591 shares during the period. Merit Financial Group LLC bought a new stake in shares of Old Republic International in the fourth quarter worth $207,000. HB Wealth Management LLC acquired a new stake in Old Republic International in the fourth quarter valued at $251,000. Atomi Financial Group Inc. raised its position in Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 302 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Old Republic International by 37.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider’s stock worth $2,595,000 after purchasing an additional 19,400 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Insider Activity at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the transaction, the chief executive officer now owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,354 shares of company stock worth $1,602,871 in the last quarter. Company insiders own 1.10% of the company’s stock.

Old Republic International Stock Down 0.9%

Shares of NYSE:ORI opened at $37.26 on Friday. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The business’s 50-day moving average is $37.78 and its 200-day moving average is $37.07. The company has a market capitalization of $9.21 billion, a price-to-earnings ratio of 14.17 and a beta of 0.74.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Old Republic International’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ORI. Piper Sandler set a $42.00 price objective on Old Republic International in a research note on Friday, April 25th. Wall Street Zen upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, 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.

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.