Ritholtz Wealth Management Boosts Holdings in Old Republic International Co. (NYSE:ORI)

Ritholtz Wealth Management grew its stake in shares of Old Republic International Co. (NYSE:ORI) by 1.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 577,204 shares of the insurance provider’s stock after purchasing an additional 10,988 shares during the quarter. Old Republic International makes up approximately 0.7% of Ritholtz Wealth Management’s investment portfolio, making the stock its 24th largest position. Ritholtz Wealth Management’s holdings in Old Republic International were worth $16,970,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in ORI. Norges Bank purchased a new stake in shares of Old Republic International during the fourth quarter valued at $68,927,000. Cowa LLC boosted its stake in shares of Old Republic International by 10,030.0% during the first quarter. Cowa LLC now owns 2,825,961 shares of the insurance provider’s stock valued at $731,000 after purchasing an additional 2,798,064 shares during the period. Comerica Bank purchased a new stake in shares of Old Republic International during the second quarter valued at $48,063,000. State Street Corp raised its holdings in shares of Old Republic International by 6.6% in the third quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock valued at $542,243,000 after acquiring an additional 1,601,571 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Old Republic International by 1,208.9% in the third quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock valued at $40,715,000 after acquiring an additional 1,395,849 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Adachi acquired 1,925 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were bought at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the acquisition, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Old Republic International Stock Performance

ORI stock opened at $30.72 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. The business has a 50-day moving average price of $28.93 and a 200 day moving average price of $28.49. The company has a market capitalization of $8.55 billion, a P/E ratio of 14.63 and a beta of 0.81. Old Republic International Co. has a 1-year low of $24.03 and a 1-year high of $30.90.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The firm had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. As a group, equities research analysts forecast that Old Republic International Co. will post 2.7 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were issued a $0.265 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a yield of 3.45%. Old Republic International’s payout ratio is currently 50.48%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Piper Sandler upgraded Old Republic International from a “neutral” rating to an “overweight” rating and set a $32.00 price objective for the company in a report on Monday, February 12th. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Old Republic International 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.