Forty three Eighteen Advisors LLC Takes $2.13 Million Position in Old Republic International Corporation $ORI

Forty three Eighteen Advisors LLC acquired a new position in Old Republic International Corporation (NYSE:ORI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 46,583 shares of the insurance provider’s stock, valued at approximately $2,126,000. Old Republic International accounts for 1.7% of Forty three Eighteen Advisors LLC’s holdings, making the stock its 15th largest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of ORI. Bank of New York Mellon Corp boosted its holdings in Old Republic International by 230.6% during the 4th 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 acquiring an additional 8,266,829 shares during the period. GQG Partners LLC purchased a new position in Old Republic International in the 4th quarter worth approximately $155,960,000. Norges Bank purchased a new position in Old Republic International in the 4th quarter worth approximately $134,633,000. AQR Capital Management LLC increased its stake in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock worth $221,457,000 after purchasing an additional 2,066,965 shares during the period. Finally, Captrust Financial Advisors lifted its position in Old Republic International by 98.0% in the third quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after purchasing an additional 1,582,895 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 0.2%

Shares of NYSE:ORI opened at $38.76 on Friday. The stock’s 50-day moving average is $39.45 and its 200 day moving average is $41.22. The company has a market cap of $9.41 billion, a PE ratio of 10.39 and a beta of 0.59. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.81 EPS. Sell-side analysts anticipate that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ORI. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Piper Sandler upped their price target on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research report on Monday, April 27th. Finally, 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. 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 assigned a Sell rating to the company. According to MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 corporate insiders.

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.