Gotham Asset Management LLC Boosts Stock Holdings in Old Republic International Corporation $ORI

Gotham Asset Management LLC grew its stake in Old Republic International Corporation (NYSE:ORI) by 32.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,079,217 shares of the insurance provider’s stock after buying an additional 261,470 shares during the quarter. Gotham Asset Management LLC owned 0.44% of Old Republic International worth $49,255,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Old Republic International by 230.6% in 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 last quarter. GQG Partners LLC acquired a new stake in shares of Old Republic International during the fourth quarter worth about $155,960,000. Norges Bank acquired a new stake in Old Republic International during the 4th quarter worth approximately $134,633,000. AQR Capital Management LLC lifted its holdings in shares of Old Republic International by 55.7% during the second 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 boosted its holdings in shares of 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 acquiring an additional 1,582,895 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ORI shares. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price target on Old Republic International in a research note on Monday, April 27th. Finally, Piper Sandler increased 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 note on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Old Republic International Stock Performance

NYSE:ORI opened at $38.73 on Thursday. The firm has a 50-day moving average of $39.54 and a two-hundred day moving average of $41.28. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76. The stock has a market cap of $9.40 billion, a P/E ratio of 10.38 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 (NYSE:ORI) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 earnings per share. On average, research analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given 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 presently 33.78%.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total transaction of $516,670.80. Following the completion of the transaction, the senior vice president owned 32,261 shares of the company’s stock, 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 legal 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. Insiders own 1.32% of the company’s stock.

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.