Wedge Capital Management L L P NC Boosts Stake in Old Republic International Co. (NYSE:ORI)

Wedge Capital Management L L P NC boosted its stake in shares of Old Republic International Co. (NYSE:ORI) by 10.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,225 shares of the insurance provider’s stock after buying an additional 5,764 shares during the period. Wedge Capital Management L L P NC’s holdings in Old Republic International were worth $1,800,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Avantax Planning Partners Inc. lifted its holdings in Old Republic International by 5.0% during the third quarter. Avantax Planning Partners Inc. now owns 9,688 shares of the insurance provider’s stock worth $261,000 after buying an additional 463 shares during the period. MBM Wealth Consultants LLC increased its position in shares of Old Republic International by 4.8% during the third quarter. MBM Wealth Consultants LLC now owns 10,280 shares of the insurance provider’s stock worth $277,000 after purchasing an additional 467 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Old Republic International by 26.6% during the third quarter. Fifth Third Bancorp now owns 2,277 shares of the insurance provider’s stock worth $61,000 after purchasing an additional 479 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Old Republic International by 13.5% during the third quarter. Nomura Asset Management Co. Ltd. now owns 4,210 shares of the insurance provider’s stock worth $113,000 after purchasing an additional 500 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Old Republic International by 2.4% during the third quarter. Moors & Cabot Inc. now owns 21,030 shares of the insurance provider’s stock worth $567,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Piper Sandler upped their target price on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st.

Old Republic International Price Performance

NYSE:ORI opened at $30.30 on Thursday. Old Republic International Co. has a one year low of $24.03 and a one year high of $31.22. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.25 and a current ratio of 0.25. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81. The firm’s fifty day moving average is $29.53 and its two-hundred day moving average is $28.87.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Research analysts expect that Old Republic International Co. will post 2.7 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a dividend of $0.265 per share. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Friday, March 8th. Old Republic International’s dividend payout ratio is presently 50.48%.

Insider Transactions at Old Republic International

In related news, Director Barbara Adachi purchased 1,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased 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 of the company’s stock, valued at approximately $224,367. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Barbara Adachi purchased 1,925 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were purchased 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 of the company’s stock, valued at approximately $224,367. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.