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

Assetmark Inc. raised its holdings in Old Republic International Corporation (NYSE:ORI) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 157,946 shares of the insurance provider’s stock after buying an additional 12,708 shares during the quarter. Assetmark Inc. owned about 0.06% of Old Republic International worth $7,209,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in shares of Old Republic International in the fourth quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Old Republic International in the third quarter worth about $27,000. Clearstead Trust LLC raised its stake in shares of Old Republic International by 65.6% in the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 288 shares during the last quarter. Core Alternative Capital acquired a new stake in Old Republic International during the third quarter worth about $42,000. Finally, Wilmington Savings Fund Society FSB grew its holdings in Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 222 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the topic of several analyst reports. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Finally, Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total value of $217,061.28. Following the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction dated Monday, March 2nd. The stock was purchased at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.32% of the company’s stock.

Old Republic International Stock Up 2.3%

Shares of ORI opened at $42.54 on Friday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The stock’s 50 day moving average is $41.01 and its two-hundred day moving average is $42.26. The firm has a market cap of $10.36 billion, a P/E ratio of 12.55 and a beta of 0.72.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data 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%. During the same period last year, the business earned $0.90 earnings per share. Analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date was Monday, March 9th. Old Republic International’s dividend payout ratio (DPR) is 37.17%.

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.