GAMMA Investing LLC Buys New Shares in Old Republic International Co. (NYSE:ORI)

GAMMA Investing LLC purchased a new position in shares of Old Republic International Co. (NYSE:ORI) during the 4th quarter, Holdings Channel.com reports. The fund purchased 1,200 shares of the insurance provider’s stock, valued at approximately $34,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ORI. Northern Trust Corp raised its stake in Old Republic International by 13.1% in the 3rd quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock valued at $66,290,000 after acquiring an additional 284,491 shares during the period. Invesco Ltd. raised its stake in Old Republic International by 55.2% in the 3rd quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock worth $60,966,000 after purchasing an additional 804,803 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Old Republic International by 3.3% in the third quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock valued at $48,827,000 after buying an additional 58,008 shares during the period. LSV Asset Management lifted its position in shares of Old Republic International by 44.3% during the 3rd quarter. LSV Asset Management now owns 1,526,990 shares of the insurance provider’s stock valued at $41,137,000 after acquiring an additional 469,000 shares during the period. Finally, UBS Group AG grew its stake in Old Republic International by 1,208.9% during the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock worth $40,715,000 after buying an additional 1,395,849 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ORI. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Piper Sandler boosted their target price on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 1st.

Old Republic International Trading Down 0.1 %

ORI opened at $30.62 on Monday. The company has a fifty day moving average of $29.76 and a 200-day moving average of $29.03. Old Republic International Co. has a twelve month low of $24.17 and a twelve month high of $31.22. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The stock has a market cap of $8.44 billion, a PE ratio of 11.91 and a beta of 0.81.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were issued a $0.265 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s payout ratio is presently 41.25%.

Insider Activity

In other news, Director Therace Risch bought 6,086 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average cost of $29.77 per share, with a total value of $181,180.22. Following the transaction, the director now directly owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Old Republic International news, Director Therace Risch bought 6,086 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was bought at an average cost of $29.77 per share, with a total value of $181,180.22. Following the completion of the transaction, the director now directly owns 6,086 shares in the company, valued at approximately $181,180.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Barbara Adachi acquired 1,925 shares of the stock in a transaction dated Friday, February 16th. The stock was bought at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the purchase, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company 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.