JPMorgan Chase & Co. Acquires 4,693 Shares of Old Republic International Co. (NYSE:ORI)


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JPMorgan Chase & Co. raised its holdings in shares of Old Republic International Co. (NYSE:ORI) by 0.6% in the fourth quarter, HoldingsChannel reports. The firm owned 837,599 shares of the insurance provider’s stock after buying an additional 4,693 shares during the quarter. JPMorgan Chase & Co.’s holdings in Old Republic International were worth $16,509,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ORI. Kowal Investment Group LLC bought a new position in shares of Old Republic International in the 4th quarter worth approximately $194,000. Truist Financial Corp raised its position in shares of Old Republic International by 32.4% in the 4th quarter. Truist Financial Corp now owns 52,776 shares of the insurance provider’s stock worth $1,041,000 after acquiring an additional 12,905 shares in the last quarter. Mork Capital Management LLC raised its position in shares of Old Republic International by 16.9% in the 4th quarter. Mork Capital Management LLC now owns 51,200 shares of the insurance provider’s stock worth $1,009,000 after acquiring an additional 7,400 shares in the last quarter. Canada Pension Plan Investment Board bought a new position in shares of Old Republic International in the 4th quarter worth approximately $1,261,000. Finally, Cetera Investment Advisers raised its position in shares of Old Republic International by 23.6% in the 4th quarter. Cetera Investment Advisers now owns 56,365 shares of the insurance provider’s stock worth $1,111,000 after acquiring an additional 10,748 shares in the last quarter. 72.58% of the stock is owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on ORI. Zacks Investment Research lowered Old Republic International from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 7th. Raymond James upped their price target on Old Republic International from $21.00 to $25.00 and gave the stock a “strong-buy” rating in a research note on Monday, April 5th.

In other Old Republic International news, EVP Stephen J. Oberst sold 14,000 shares of the stock in a transaction on Friday, February 5th. The stock was sold at an average price of $19.21, for a total transaction of $268,940.00. Following the sale, the executive vice president now directly owns 20,771 shares in the company, valued at approximately $399,010.91. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Denard Kennedy bought 1,352 shares of the business’s stock in a transaction on Monday, February 22nd. The shares were acquired at an average price of $19.94 per share, for a total transaction of $26,958.88. Following the completion of the purchase, the director now owns 2,846 shares in the company, valued at approximately $56,749.24. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 2,102 shares of company stock worth $41,894. Company insiders own 1.90% of the company’s stock.

Old Republic International stock opened at $23.47 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $7.15 billion, a P/E ratio of 21.93 and a beta of 0.76. The stock’s 50 day moving average is $21.53 and its 200 day moving average is $18.83. Old Republic International Co. has a twelve month low of $13.08 and a twelve month high of $23.55.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Wednesday, January 27th. The insurance provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.32. Old Republic International had a return on equity of 10.24% and a net margin of 4.85%. The company had revenue of $2.05 billion for the quarter, compared to the consensus estimate of $1.75 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. As a group, equities analysts expect that Old Republic International Co. will post 1.9 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Tuesday, March 9th were paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.75%. This is an increase from Old Republic International’s previous quarterly dividend of $0.21. The ex-dividend date was Monday, March 8th. Old Republic International’s dividend payout ratio (DPR) is currently 47.83%.

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. The company operates through three segments: General Insurance, Title Insurance, and the Republic Financial Indemnity Group Run-off Business.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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