Arrowstreet Capital Limited Partnership Has $52.03 Million Stake in Old Republic International Corporation $ORI

Arrowstreet Capital Limited Partnership trimmed its stake in Old Republic International Corporation (NYSE:ORI) by 18.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,353,428 shares of the insurance provider’s stock after selling 299,882 shares during the period. Arrowstreet Capital Limited Partnership owned 0.54% of Old Republic International worth $52,026,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ORI. 1 North Wealth Services LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $29,000. Quarry LP grew its stake in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after buying an additional 731 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Old Republic International in the 2nd quarter valued at $34,000. SBI Securities Co. Ltd. raised its holdings in Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 274 shares during the period. Finally, Neo Ivy Capital Management acquired a new position in Old Republic International during the 2nd quarter worth $57,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $43.64 on Friday. The firm has a market cap of $10.80 billion, a P/E ratio of 14.59 and a beta of 0.77. The firm’s 50-day simple moving average is $42.72 and its 200-day simple moving average is $39.73. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $46.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. As a group, research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Friday, December 5th. Old Republic International’s dividend payout ratio is 38.80%.

Analysts Set New Price Targets

ORI has been the subject of a number of recent analyst reports. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Piper Sandler lowered their target price on Old Republic International from $47.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and an average target price of $46.50.

Insider Buying and Selling at Old Republic International

In related news, Director Therace Risch acquired 1,000 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the acquisition, the director owned 10,625 shares in the company, valued at $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the sale, the senior vice president owned 29,075 shares in the company, valued at $1,295,000.50. This represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate 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.