Y Intercept Hong Kong Ltd Invests $888,000 in Old Republic International Corporation $ORI

Y Intercept Hong Kong Ltd acquired a new position in shares of Old Republic International Corporation (NYSE:ORI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,096 shares of the insurance provider’s stock, valued at approximately $888,000.

Other large investors also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its position in Old Republic International by 3.6% in the first quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock valued at $114,453,000 after purchasing an additional 100,264 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in Old Republic International by 15.9% in the first quarter. Brandywine Global Investment Management LLC now owns 635,855 shares of the insurance provider’s stock valued at $24,938,000 after purchasing an additional 87,398 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Old Republic International by 7.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,533,958 shares of the insurance provider’s stock valued at $60,162,000 after purchasing an additional 108,711 shares in the last quarter. Genus Capital Management Inc. bought a new position in shares of Old Republic International in the 1st quarter valued at about $2,781,000. Finally, Kovitz Investment Group Partners LLC grew its position in shares of Old Republic International by 83.2% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 22,702 shares of the insurance provider’s stock valued at $890,000 after acquiring an additional 10,312 shares during the period. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI stock opened at $40.08 on Wednesday. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of 13.40 and a beta of 0.76. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.64. The company has a 50-day simple moving average of $41.04 and a 200 day simple moving average of $38.79. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $44.00.

Old Republic International (NYSE:ORI) last announced its earnings results on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.28 billion. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. On average, sell-side analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. Old Republic International’s payout ratio is presently 38.80%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Piper Sandler decreased their price objective on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Wall Street Zen downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Strong Buy” and a consensus target price of $46.50.

Insider Activity

In other Old Republic International news, Director Therace Risch acquired 1,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was purchased at an average price of $39.14 per share, with a total value of $39,140.00. Following the acquisition, the director directly owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. This trade represents a 10.39% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.10% 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.