Orca Wealth Management LLC Grows Stock Position in Old Republic International Corporation $ORI

Orca Wealth Management LLC increased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 10.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 169,271 shares of the insurance provider’s stock after purchasing an additional 16,219 shares during the period. Old Republic International accounts for 5.7% of Orca Wealth Management LLC’s investment portfolio, making the stock its 2nd largest position. Orca Wealth Management LLC’s holdings in Old Republic International were worth $7,726,000 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of 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 worth $1,081,745,000 after buying an additional 123,954 shares in the last quarter. AQR Capital Management LLC increased its holdings in Old Republic International by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after acquiring an additional 1,774,807 shares during the period. Dimensional Fund Advisors LP increased its holdings in Old Republic International by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock worth $285,268,000 after acquiring an additional 116,549 shares during the period. Thrivent Financial for Lutherans lifted its stake in Old Republic International by 0.6% in the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock worth $170,364,000 after purchasing an additional 22,496 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Old Republic International by 19.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after purchasing an additional 575,778 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Trading Down 0.5%

NYSE ORI opened at $39.65 on Friday. 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 stock’s 50-day simple moving average is $40.09 and its two-hundred day simple moving average is $41.99. Old Republic International Corporation has a twelve month low of $35.60 and a twelve month high of $46.76. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 10.63 and a beta of 0.63.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.Old Republic International’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Friday, June 5th. Old Republic International’s payout ratio is presently 33.78%.

Insiders Place Their Bets

In other Old Republic International news, Director John Eric Smith purchased 1,135 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the completion of 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 position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the transaction, the senior vice president directly owned 32,261 shares in the company, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ORI shares. Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Piper Sandler boosted their target price on Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Finally, Raymond James Financial set a $44.00 price target on Old Republic International in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Old Republic International presently has an average rating of “Moderate Buy” and an average target price of $42.00.

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. 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.