GAMMA Investing LLC Boosts Stake in Old Republic International Co. (NYSE:ORI)

GAMMA Investing LLC raised its holdings in Old Republic International Co. (NYSE:ORI) by 4,738.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 216,730 shares of the insurance provider’s stock after purchasing an additional 212,251 shares during the quarter. GAMMA Investing LLC owned 0.09% of Old Republic International worth $8,500,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ORI. Fairway Wealth LLC purchased a new stake in Old Republic International in the fourth quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Old Republic International in the fourth quarter valued at $34,000. Core Alternative Capital acquired a new stake in shares of Old Republic International in the fourth quarter valued at $36,000. Whipplewood Advisors LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at $41,000. Finally, Millstone Evans Group LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at $41,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler set a $42.00 price objective on Old Republic International in a research note on Friday, April 25th. Wall Street Zen raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 price objective on Old Republic International and gave the company an “outperform” rating in a research note on Monday, April 28th.

Old Republic International Trading Up 0.2%

ORI opened at $37.48 on Monday. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 14.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The business has a fifty day moving average price of $37.60 and a 200 day moving average price of $37.11.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The firm had revenue of $2.06 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Old Republic International’s revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.10%. Old Republic International’s payout ratio is 47.15%.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the sale, the senior vice president now directly owns 35,755 shares of the company’s stock, valued at $1,336,521.90. The trade was a 22.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares of the company’s stock, valued at $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

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.