Gotham Asset Management LLC Acquires 162,120 Shares of Old Republic International Corporation $ORI

Gotham Asset Management LLC raised its stake in shares of Old Republic International Corporation (NYSE:ORI) by 24.7% during the third quarter, Holdings Channel reports. The firm owned 817,747 shares of the insurance provider’s stock after buying an additional 162,120 shares during the period. Gotham Asset Management LLC’s holdings in Old Republic International were worth $34,730,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of ORI. Clearstead Trust LLC raised its holdings in shares of Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after buying an additional 288 shares in the last quarter. Core Alternative Capital bought a new position in shares of Old Republic International during the 3rd quarter worth approximately $42,000. Caldwell Trust Co boosted its stake in Old Republic International by 75.0% in the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock valued at $45,000 after buying an additional 450 shares in the last quarter. SJS Investment Consulting Inc. boosted its stake in Old Republic International by 37.1% in the 3rd quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock valued at $47,000 after buying an additional 298 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in Old Republic International in the second quarter valued at $46,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Stock Up 0.8%

NYSE ORI opened at $40.41 on Tuesday. The stock’s 50 day simple moving average is $41.50 and its 200 day simple moving average is $42.33. Old Republic International Corporation has a one year low of $34.43 and a one year high of $46.76. The firm has a market cap of $9.93 billion, a PE ratio of 11.92 and a beta of 0.73. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same period in the prior year, the company posted $0.90 earnings per share. As a group, sell-side analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be issued a $0.315 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s dividend payout ratio (DPR) is presently 37.17%.

Analysts Set New Price Targets

Several research analysts have issued reports on ORI shares. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Piper Sandler reaffirmed a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Finally, Weiss Ratings upgraded shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and an average target price of $42.50.

Insider Activity

In related news, Director John Eric Smith purchased 1,135 shares of Old Republic International stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,094,930. This represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by corporate insiders.

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. 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.