Dockside LLC bought a new stake in Old Republic International Corporation (NYSE:ORI – Free Report) during the fourth quarter, Holdings Channel reports. The fund bought 22,025 shares of the insurance provider’s stock, valued at approximately $1,005,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Old Republic International by 0.5% in the third quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock valued at $1,081,745,000 after acquiring an additional 123,954 shares during the last quarter. Bank of New York Mellon Corp raised its position in Old Republic International by 230.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after purchasing an additional 8,266,829 shares during the period. AQR Capital Management LLC raised its position in Old Republic International by 30.7% in the third 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 raised its position in Old Republic International by 1.8% in the third 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. Finally, Geode Capital Management LLC raised its position in Old Republic International by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock valued at $190,870,000 after purchasing an additional 72,857 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.
Old Republic International Stock Down 0.1%
Shares of Old Republic International stock opened at $38.53 on Monday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm has a market cap of $9.36 billion, a P/E ratio of 10.33 and a beta of 0.60. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The business has a 50-day moving average price of $39.64 and a 200 day moving average price of $41.45.
Old Republic International Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend is Friday, June 5th. Old Republic International’s payout ratio is currently 33.78%.
Analyst Ratings Changes
ORI has been the topic of several research reports. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Piper Sandler raised their price objective on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Finally, Raymond James Financial set a $44.00 price objective on Old Republic International in a research report on Monday, April 27th. One 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 given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.
Read Our Latest Research Report on Old Republic International
Insiders Place Their Bets
In related news, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president directly owned 32,261 shares of the company’s stock, valued at $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by corporate insiders.
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.
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