First Trust Advisors LP Boosts Position in Old Republic International Corporation $ORI

First Trust Advisors LP grew its stake in shares of Old Republic International Corporation (NYSE:ORI) by 30.6% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,331,577 shares of the insurance provider’s stock after acquiring an additional 545,803 shares during the period. First Trust Advisors LP’s holdings in Old Republic International were worth $99,022,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HUB Investment Partners LLC boosted its position in shares of Old Republic International by 28.3% in the third quarter. HUB Investment Partners LLC now owns 8,934 shares of the insurance provider’s stock valued at $379,000 after acquiring an additional 1,971 shares during the period. Gabelli Funds LLC bought a new stake in Old Republic International during the 3rd quarter worth approximately $1,678,000. Aptus Capital Advisors LLC bought a new stake in Old Republic International during the 3rd quarter worth approximately $219,000. Barclays PLC lifted its stake in Old Republic International by 148.1% in the 3rd quarter. Barclays PLC now owns 528,076 shares of the insurance provider’s stock worth $22,427,000 after purchasing an additional 315,269 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Old Republic International by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock worth $285,268,000 after purchasing an additional 116,549 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director John Eric Smith acquired 1,135 shares of Old Republic International stock in a transaction dated Monday, March 2nd. The shares were purchased at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director owned 4,276 shares of the company’s stock, valued at $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the sale, the senior vice president owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their position. The SEC filing for this sale provides additional information. 1.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ORI has been the subject of a number of recent analyst reports. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Finally, Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Old Republic International Stock Performance

Old Republic International stock opened at $40.85 on Tuesday. Old Republic International Corporation has a fifty-two week low of $34.43 and a fifty-two week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $10.04 billion, a P/E ratio of 12.05 and a beta of 0.73. The firm’s fifty day moving average price is $41.97 and its 200-day moving average price is $42.32.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same quarter in the previous year, the business earned $0.90 earnings per share. On average, equities research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 9th. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio (DPR) is currently 34.22%.

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.