Nordea Investment Management AB Increases Stake in Old Republic International Corporation $ORI

Nordea Investment Management AB raised its position in shares of Old Republic International Corporation (NYSE:ORI) by 3.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 487,659 shares of the insurance provider’s stock after purchasing an additional 15,113 shares during the quarter. Nordea Investment Management AB owned 0.20% of Old Republic International worth $20,667,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ORI. Ellsworth Advisors LLC bought a new stake in shares of Old Republic International in the 3rd quarter worth $6,000,000. American National Bank & Trust lifted its holdings in shares of Old Republic International by 80.0% during the third quarter. American National Bank & Trust now owns 45,000 shares of the insurance provider’s stock valued at $1,911,000 after purchasing an additional 20,000 shares in the last quarter. Foster & Motley Inc. boosted its position in shares of Old Republic International by 32.5% during the second quarter. Foster & Motley Inc. now owns 40,272 shares of the insurance provider’s stock valued at $1,548,000 after buying an additional 9,876 shares during the last quarter. Inspire Investing LLC increased its holdings in Old Republic International by 67.3% in the 3rd quarter. Inspire Investing LLC now owns 84,624 shares of the insurance provider’s stock worth $3,594,000 after buying an additional 34,044 shares in the last quarter. Finally, Aviva PLC purchased a new position in Old Republic International in the 2nd quarter worth about $512,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $43.31 on Friday. The company has a quick ratio of 0.26, a current ratio of 0.26 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $10.72 billion, a PE ratio of 14.48 and a beta of 0.76. The firm’s 50 day moving average price is $44.48 and its 200-day moving average price is $41.20. Old Republic International Corporation has a twelve month low of $34.43 and a twelve month high of $46.76.

Old Republic International (NYSE:ORI) last announced its earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The company had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. Equities research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were paid a $2.50 dividend. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is 38.80%.

Insiders Place Their Bets

In related news, Director Therace Risch acquired 1,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were purchased at an average price of $39.14 per share, with a total value of $39,140.00. Following the completion of the purchase, the director directly owned 10,625 shares of the company’s stock, valued at $415,862.50. This represents a 10.39% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $44.54, for a total value of $297,527.20. Following the transaction, the senior vice president directly owned 29,075 shares in the company, valued at approximately $1,295,000.50. The trade was a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ORI shares. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price target for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Piper Sandler increased their price objective on shares of Old Republic International from $46.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday, December 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, Old Republic International presently has a consensus rating of “Strong Buy” and an average target price of $49.00.

Old Republic International Company Profile

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.