140,183 Shares in Old Republic International Corporation $ORI Purchased by Ellsworth Advisors LLC

Ellsworth Advisors LLC purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 140,183 shares of the insurance provider’s stock, valued at approximately $6,000,000. Old Republic International accounts for approximately 1.3% of Ellsworth Advisors LLC’s portfolio, making the stock its 24th biggest position. Ellsworth Advisors LLC owned approximately 0.06% of Old Republic International at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Smartleaf Asset Management LLC increased its holdings in shares of Old Republic International by 89.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,347 shares of the insurance provider’s stock valued at $91,000 after purchasing an additional 1,110 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in Old Republic International during the first quarter valued at $5,918,000. Ieq Capital LLC grew its position in Old Republic International by 270.5% during the first quarter. Ieq Capital LLC now owns 121,911 shares of the insurance provider’s stock valued at $4,781,000 after buying an additional 89,006 shares during the period. Trexquant Investment LP purchased a new position in Old Republic International in the first quarter valued at $5,877,000. Finally, Evergreen Capital Management LLC raised its position in shares of Old Republic International by 5.0% in the first quarter. Evergreen Capital Management LLC now owns 25,811 shares of the insurance provider’s stock worth $1,012,000 after acquiring an additional 1,238 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 6,680 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Therace Risch bought 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average price of $39.14 per share, for a total transaction of $39,140.00. Following the completion of the acquisition, the director owned 10,625 shares in the company, valued at approximately $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Old Republic International Price Performance

Shares of Old Republic International stock opened at $46.58 on Friday. The stock has a market capitalization of $11.52 billion, a P/E ratio of 15.58 and a beta of 0.77. The business has a 50 day simple moving average of $43.52 and a two-hundred day simple moving average of $40.57. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $46.76. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.26 and a quick ratio of 0.26.

Old Republic International (NYSE:ORI) last issued its quarterly 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. As a group, analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a special dividend, which will be paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd will be paid a $2.50 dividend. The ex-dividend date of this dividend is Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is currently 38.80%.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of analyst reports. Weiss Ratings restated a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday. Piper Sandler boosted their price objective on Old Republic International from $46.00 to $51.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Finally, Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their target price for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average target price of $49.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.