New York Life Investment Management LLC Acquires Shares of 29,864 Old Republic International Co. (NYSE:ORI)

New York Life Investment Management LLC acquired a new stake in Old Republic International Co. (NYSE:ORI) during the fourth quarter, HoldingsChannel reports. The fund acquired 29,864 shares of the insurance provider’s stock, valued at approximately $878,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ORI. Commonwealth Equity Services LLC grew its holdings in Old Republic International by 7.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 176,000 shares of the insurance provider’s stock valued at $4,741,000 after buying an additional 11,925 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new position in Old Republic International in the 3rd quarter valued at $301,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Old Republic International by 24.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,779 shares of the insurance provider’s stock valued at $1,233,000 after buying an additional 9,049 shares in the last quarter. Advisor Partners II LLC acquired a new position in Old Republic International in the 3rd quarter valued at $206,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Old Republic International by 195.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 34,851 shares of the insurance provider’s stock valued at $939,000 after buying an additional 23,040 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on ORI shares. Piper Sandler increased their target price on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

Old Republic International Stock Up 0.2 %

Shares of ORI opened at $31.14 on Thursday. The firm has a 50 day simple moving average of $29.88 and a two-hundred day simple moving average of $29.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. Old Republic International Co. has a one year low of $24.17 and a one year high of $31.32. The company has a market cap of $8.46 billion, a P/E ratio of 12.12 and a beta of 0.81.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s payout ratio is 41.25%.

Insider Buying and Selling

In other news, VP Thomas Dare sold 1,292 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.95, for a total value of $39,987.40. Following the completion of the transaction, the vice president now owns 47,764 shares of the company’s stock, valued at $1,478,295.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Thomas Dare sold 1,292 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.95, for a total value of $39,987.40. Following the completion of the transaction, the vice president now owns 47,764 shares of the company’s stock, valued at $1,478,295.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Barbara Adachi bought 1,925 shares of the company’s 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 acquisition, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is owned by corporate insiders.

Old Republic International 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.