Mirae Asset Global Investments Co. Ltd. Makes New Investment in Old Republic International Corporation $ORI

Mirae Asset Global Investments Co. Ltd. bought a new stake in Old Republic International Corporation (NYSE:ORI – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 211,683 shares of the insurance provider’s stock, valued at approximately $7,898,000. Mirae Asset Global Investments Co. Ltd. owned about 0.09% of Old Republic International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in ORI. Elevation Wealth Partners LLC raised its holdings in shares of Old Republic International by 109.7% in the 3rd quarter. Elevation Wealth Partners LLC now owns 839 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 439 shares during the period. Latitude Advisors LLC acquired a new stake in shares of Old Republic International during the third quarter worth $38,000. Root Financial Partners LLC acquired a new stake in Old Republic International in the 3rd quarter worth about $62,000. Western Wealth Management LLC bought a new stake in shares of Old Republic International in the first quarter valued at approximately $90,000. Finally, Nykredit A S bought a new stake in shares of Old Republic International during the 2nd quarter valued at $123,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 4,386 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total value of $184,255.86. Following the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,171,028.75. This trade represents a 13.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.32% of the stock is owned by corporate insiders.

Old Republic International Trading Up 3.0%

ORI opened at $39.95 on Thursday. Old Republic International Corporation has a 1-year low of $36.65 and a 1-year high of $46.76. The company has a market cap of $9.58 billion, a P/E ratio of 9.00 and a beta of 0.52. The company has a fifty day moving average price of $39.50 and a two-hundred day moving average price of $40.42. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.30.

Old Republic International (NYSE:ORI – Get Free Report) last announced its quarterly earnings results on Thursday, October 22nd. The insurance provider reported $0.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.06). Old Republic International had a return on equity of 12.13% and a net margin of 11.19%. The firm had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter in the previous year, the company posted $0.78 EPS. Analysts predict that Old Republic International Corporation will post 2.78 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were issued a $0.3150 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, September 4th. Old Republic International’s dividend payout ratio is currently 28.38%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Raymond James Financial lowered shares of Old Republic International from a “strong-buy” rating to an “outperform” rating and reduced their price target for the stock from $48.00 to $45.00 in a research report on Friday, October 23rd. Piper Sandler lifted their target price on shares of Old Republic International from $39.00 to $42.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Finally, Weiss Ratings lowered Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Old Republic International currently has a consensus rating of “Moderate Buy” and a consensus target price of $43.50.

View Our Latest Research Report on Old Republic International

Old Republic International Company Profile

(Free Report)

Old Republic International Corporation (NYSE: ORI) is an insurance holding company that provides a range of commercial and personal insurance products and related services in the United States and Canada. Founded in 1887, the company operates through businesses focused primarily on general insurance and title insurance.

Old Republic’s general insurance operations offer coverage for commercial property, workers’ compensation, commercial automobile, general liability, inland marine, aviation, and other specialty risks.

Further Reading

Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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