HBK Sorce Advisory LLC Purchases Shares of 36,141 Old Republic International Co. (NYSE:ORI)

HBK Sorce Advisory LLC purchased a new stake in Old Republic International Co. (NYSE:ORI) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 36,141 shares of the insurance provider’s stock, valued at approximately $1,063,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ORI. American Century Companies Inc. raised its stake in Old Republic International by 58.9% in the first quarter. American Century Companies Inc. now owns 56,825 shares of the insurance provider’s stock valued at $1,471,000 after buying an additional 21,064 shares during the last quarter. HighTower Advisors LLC grew its holdings in Old Republic International by 31.1% during the first quarter. HighTower Advisors LLC now owns 17,253 shares of the insurance provider’s stock worth $448,000 after acquiring an additional 4,088 shares during the period. Natixis Advisors L.P. grew its holdings in Old Republic International by 21.5% during the first quarter. Natixis Advisors L.P. now owns 22,153 shares of the insurance provider’s stock worth $573,000 after acquiring an additional 3,918 shares during the period. D.A. Davidson & CO. acquired a new stake in Old Republic International during the first quarter worth about $296,000. Finally, Panagora Asset Management Inc. grew its holdings in Old Republic International by 2.3% during the first quarter. Panagora Asset Management Inc. now owns 21,388 shares of the insurance provider’s stock worth $553,000 after acquiring an additional 484 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In other news, Director Barbara Adachi purchased 1,925 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Barbara Adachi purchased 1,925 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 6,528 shares of Old Republic International stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the sale, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of several analyst reports. Piper Sandler raised their target price on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Old Republic International Stock Down 2.1 %

Shares of ORI opened at $30.11 on Wednesday. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. Old Republic International Co. has a 12 month low of $24.03 and a 12 month high of $31.22. The stock’s 50 day moving average is $29.18 and its two-hundred day moving average is $28.68. The firm has a market cap of $8.29 billion, a P/E ratio of 14.34 and a beta of 0.81.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. Analysts predict that Old Republic International Co. will post 2.7 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a $0.265 dividend. The ex-dividend date of this dividend was Friday, March 8th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.52%. Old Republic International’s payout ratio is currently 50.48%.

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.