86,670 Shares of Old Republic International Corporation $ORI Bought by ASK Capital Investment Managers LLC

ASK Capital Investment Managers LLC acquired a new position in Old Republic International Corporation (NYSE:ORI) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 86,670 shares of the insurance provider’s stock, valued at approximately $3,234,000. Old Republic International accounts for about 3.6% of ASK Capital Investment Managers LLC’s portfolio, making the stock its 12th largest position.

Several other hedge funds have also added to or reduced their stakes in the stock. Elevation Wealth Partners LLC grew its position in shares of Old Republic International by 109.7% during the 3rd quarter. Elevation Wealth Partners LLC now owns 839 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 439 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Old Republic International during the 4th quarter worth approximately $48,000. Western Wealth Management LLC purchased a new stake in shares of Old Republic International during the 1st quarter worth approximately $90,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Old Republic International in the 4th quarter worth approximately $92,000. Finally, CENTRAL TRUST Co raised its holdings in shares of Old Republic International by 17.8% in the 1st quarter. CENTRAL TRUST Co now owns 2,608 shares of the insurance provider’s stock worth $104,000 after purchasing an additional 395 shares during the period. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI opened at $38.19 on Wednesday. The stock’s 50-day simple moving average is $40.60 and its 200 day simple moving average is $40.43. The stock has a market capitalization of $9.22 billion, a price-to-earnings ratio of 11.57 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. Old Republic International Corporation has a 52-week low of $36.65 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.38 billion. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.81 EPS. Research analysts forecast that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were issued a $0.3150 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, September 4th. Old Republic International’s dividend payout ratio is presently 29.79%.

Insider Transactions at Old Republic International

In related news, SVP Jeffrey Lange sold 14,075 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the transaction, the senior vice president owned 12,244 shares of the company’s stock, valued at approximately $535,797.44. The trade was a 53.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 4,386 shares of the company’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total transaction of $184,255.86. Following the sale, the senior vice president directly owned 27,875 shares in the company, valued at $1,171,028.75. This trade represents a 13.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 33,374 shares of company stock valued at $1,452,714. 1.32% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ORI shares. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Piper Sandler lowered their target price on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. Finally, Weiss Ratings downgraded Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research note on Friday, September 18th. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Old Republic International has an average rating of “Hold” and an average target price of $41.50.

About Old Republic International

Old Republic International Corporation (NYSE: ORI) is an insurance holding company headquartered in Chicago, Illinois. Founded in 1887, the company operates through subsidiaries that provide insurance products and related services to businesses, individuals, and financial institutions.

Old Republic’s general insurance operations offer commercial property and casualty coverage, including workers’ compensation, commercial automobile, general liability, property, transportation, construction, and specialized industry insurance.