173,406 Shares in Old Republic International Co. (NYSE:ORI) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new position in shares of Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 173,406 shares of the insurance provider’s stock, valued at approximately $5,098,000. Mackenzie Financial Corp owned approximately 0.06% of Old Republic International as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ORI. Norges Bank acquired a new position in Old Republic International during the 4th quarter worth about $68,927,000. Cowa LLC raised its holdings in Old Republic International by 10,030.0% during the 1st quarter. Cowa LLC now owns 2,825,961 shares of the insurance provider’s stock worth $731,000 after purchasing an additional 2,798,064 shares during the last quarter. State Street Corp raised its holdings in Old Republic International by 6.6% during the 3rd quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock worth $542,243,000 after purchasing an additional 1,601,571 shares during the last quarter. UBS Group AG raised its holdings in Old Republic International by 1,208.9% during the 3rd quarter. UBS Group AG now owns 1,511,315 shares of the insurance provider’s stock worth $40,715,000 after purchasing an additional 1,395,849 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Old Republic International by 124.0% during the 1st quarter. Allianz Asset Management GmbH now owns 1,974,899 shares of the insurance provider’s stock worth $51,091,000 after purchasing an additional 1,093,287 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Buying and Selling

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

Old Republic International Stock Performance

Shares of ORI stock opened at $29.76 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 stock has a market cap of $8.20 billion, a PE ratio of 14.17 and a beta of 0.81. The stock has a 50-day moving average of $29.43 and a 200-day moving average of $28.80. Old Republic International Co. has a one year low of $24.03 and a one year high of $31.22.

Old Republic International (NYSE:ORI) last announced its quarterly 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 company had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.95 billion. Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. As a group, sell-side analysts expect that Old Republic International Co. will post 2.7 earnings per share for the current year.

Old Republic International Increases Dividend

The business 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 was Friday, March 8th. This is a boost 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 3.56%. Old Republic International’s dividend payout ratio is 50.48%.

Analyst Upgrades and Downgrades

ORI has been the subject of several recent research reports. Piper Sandler boosted their price objective 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 cut Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

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.