Gilliland Jeter Wealth Management LLC Buys New Position in Old Republic International Co. (NYSE:ORI)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 10,430 shares of the insurance provider’s stock, valued at approximately $307,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Nordea Investment Management AB increased its holdings in shares of Old Republic International by 12.7% in the fourth quarter. Nordea Investment Management AB now owns 436,420 shares of the insurance provider’s stock valued at $12,826,000 after purchasing an additional 49,329 shares during the period. Alaska Permanent Fund Corp increased its holdings in shares of Old Republic International by 9.2% in the fourth quarter. Alaska Permanent Fund Corp now owns 436,716 shares of the insurance provider’s stock valued at $12,839,000 after purchasing an additional 36,754 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Old Republic International by 92.2% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 93,599 shares of the insurance provider’s stock valued at $2,522,000 after purchasing an additional 44,895 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Old Republic International during the fourth quarter worth about $3,270,000. Finally, Etesian Wealth Advisors Inc. grew its holdings in Old Republic International by 1.7% during the fourth quarter. Etesian Wealth Advisors Inc. now owns 49,520 shares of the insurance provider’s stock worth $1,458,000 after acquiring an additional 808 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on ORI shares. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a report on Friday. 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.

Insiders Place Their Bets

In other Old Republic International news, 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 transaction of $180,890.88. Following the transaction, the senior vice president now owns 35,340 shares in the company, valued at $979,271.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Carolyn Monroe sold 6,528 shares of the firm’s 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 transaction, the senior vice president now owns 35,340 shares in the company, valued at $979,271.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Barbara Adachi bought 1,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was purchased at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the transaction, 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 company insiders.

Old Republic International Stock Performance

Old Republic International stock traded up $0.11 during midday trading on Friday, hitting $30.13. 2,514,075 shares of the company were exchanged, compared to its average volume of 1,795,296. The firm has a market capitalization of $8.30 billion, a PE ratio of 11.72 and a beta of 0.81. The business has a fifty day simple moving average of $29.58 and a two-hundred day simple moving average of $28.90. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.25 and a current ratio of 1.28. Old Republic International Co. has a fifty-two week low of $24.03 and a fifty-two week high of $31.22.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. On average, sell-side analysts forecast that Old Republic International Co. will post 2.7 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were given a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 dividend on an annualized basis and a yield of 3.52%. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s dividend payout ratio is currently 41.25%.

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.