UBS Group AG increased its stake in shares of Old Republic International Corporation (NYSE:ORI – Free Report) by 11.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,120,224 shares of the insurance provider’s stock after acquiring an additional 118,645 shares during the quarter. UBS Group AG’s holdings in Old Republic International were worth $51,127,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of ORI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Old Republic International by 30.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock worth $477,000 after acquiring an additional 2,867 shares during the period. NewEdge Advisors LLC increased its position in shares of Old Republic International by 121.9% during the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock valued at $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp grew its stake in shares of Old Republic International by 122.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock valued at $178,000 after purchasing an additional 2,493 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Old Republic International by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock valued at $62,480,000 after purchasing an additional 148,891 shares during the period. Finally, Sivia Capital Partners LLC grew its stake in shares of Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,028 shares during the period. Institutional investors own 70.92% of the company’s stock.
Insider Buying and Selling
In related news, Director John Eric Smith acquired 1,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $43.10 per share, with a total value of $48,918.50. Following the acquisition, the director directly owned 4,276 shares in the company, valued at $184,295.60. The trade was a 36.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.32% of the stock is currently owned by corporate insiders.
Old Republic International Price Performance
Old Republic International (NYSE:ORI – Get Free Report) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the prior year, the company earned $0.81 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts predict that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.
Old Republic International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s payout ratio is currently 33.78%.
Wall Street Analysts Forecast Growth
Several research firms have recently weighed in on ORI. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Weiss Ratings cut shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. Finally, Piper Sandler upped their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Old Republic International has an average rating of “Moderate Buy” and a consensus target price of $42.00.
Read Our Latest Analysis on Old Republic International
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.
Featured Stories
Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Corporation (NYSE:ORI – Free Report).
Receive News & Ratings for Old Republic International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International and related companies with MarketBeat.com's FREE daily email newsletter.
