Assetmark Inc. Boosts Stock Position in Old Republic International Corporation $ORI

Assetmark Inc. raised its holdings in Old Republic International Corporation (NYSE:ORI) by 19.9% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 145,238 shares of the insurance provider’s stock after acquiring an additional 24,059 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Old Republic International worth $6,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of Old Republic International by 2,840.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after purchasing an additional 3,793,085 shares during the last quarter. Norges Bank purchased a new stake in Old Republic International in the 2nd quarter valued at about $115,071,000. AQR Capital Management LLC boosted its position in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after buying an additional 2,066,965 shares during the period. LSV Asset Management grew its stake in Old Republic International by 43.7% in the 2nd quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider’s stock worth $103,877,000 after acquiring an additional 821,975 shares in the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Old Republic International during the second quarter worth approximately $27,289,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Price Performance

ORI opened at $42.59 on Tuesday. The firm has a market capitalization of $10.54 billion, a PE ratio of 12.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.64 and a quick ratio of 0.26. The business’s 50-day moving average is $43.01 and its two-hundred day moving average is $41.87. Old Republic International Corporation has a 1 year low of $34.43 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.31 billion. During the same period in the previous year, the company posted $0.90 earnings per share. Research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently announced a special dividend, which was paid on Wednesday, January 14th. Investors of record on Friday, January 2nd were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, January 2nd. Old Republic International’s dividend payout ratio is presently 34.22%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ORI. Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 5,526 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the transaction, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.10% of the stock is currently owned by company 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. 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.