Dakota Wealth Management Buys New Stake in Old Republic International Corporation $ORI

Dakota Wealth Management purchased a new stake in Old Republic International Corporation (NYSE:ORI) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,802 shares of the insurance provider’s stock, valued at approximately $767,000.

Several other large investors also recently bought and sold shares of ORI. Vanguard Group Inc. increased its position in shares of Old Republic International by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock worth $1,081,745,000 after purchasing an additional 123,954 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Old Republic International by 30.7% in the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock valued at $319,155,000 after purchasing an additional 1,774,807 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Old Republic International by 1.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock valued at $285,268,000 after purchasing an additional 116,549 shares during the period. Thrivent Financial for Lutherans grew its stake in Old Republic International by 2,840.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after buying an additional 3,793,085 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Old Republic International by 19.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock worth $152,279,000 after buying an additional 575,778 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ORI. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Monday, March 23rd. Finally, Piper Sandler reaffirmed 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Old Republic International has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insiders Place Their Bets

In related news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the transaction, the senior vice president directly owned 27,875 shares in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Eric Smith acquired 1,135 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was purchased at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the purchase, the director directly owned 4,276 shares in the company, valued at $184,295.60. This trade represents a 36.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI stock opened at $39.43 on Monday. The stock’s 50-day moving average price is $40.84 and its 200 day moving average price is $42.26. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $9.69 billion, a PE ratio of 11.63 and a beta of 0.73. Old Republic International Corporation has a 52-week low of $34.43 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period last year, the firm earned $0.90 EPS. As a group, equities research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were issued a dividend of $0.315 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International’s dividend payout ratio is 37.17%.

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. 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.