Burns Matteson Capital Management LLC Invests $616,000 in Old Republic International Corporation $ORI

Burns Matteson Capital Management LLC acquired a new position in Old Republic International Corporation (NYSE:ORI) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,500 shares of the insurance provider’s stock, valued at approximately $616,000.

A number of other institutional investors and hedge funds have also bought and sold shares of ORI. JPL Wealth Management LLC purchased a new position in Old Republic International in the 3rd quarter worth approximately $27,000. Clearstead Trust LLC raised its position in shares of Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after buying an additional 288 shares in the last quarter. Core Alternative Capital bought a new stake in shares of Old Republic International during the 3rd quarter worth $42,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Old Republic International by 28.1% during the 3rd 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 last quarter. Finally, Caldwell Trust Co grew its position in Old Republic International by 75.0% in the third quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock worth $45,000 after acquiring an additional 450 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on ORI shares. Piper Sandler reissued a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a report on Monday, March 23rd. Finally, Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. One 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. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Insider Activity

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

Old Republic International Trading Down 0.2%

Shares of ORI opened at $39.85 on Wednesday. Old Republic International Corporation has a fifty-two week low of $34.43 and a fifty-two week high of $46.76. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 11.76 and a beta of 0.73. The firm has a 50 day moving average price of $40.72 and a 200-day moving average price of $42.25. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27.

Old Republic International (NYSE:ORI) last released its 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%. During the same quarter in the prior year, the business posted $0.90 EPS. As a group, equities research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were paid a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International’s 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.