Sterling Capital Management LLC Acquires 4,439 Shares of Old Republic International Co. (NYSE:ORI)

Sterling Capital Management LLC lifted its stake in Old Republic International Co. (NYSE:ORI) by 20.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,593 shares of the insurance provider’s stock after acquiring an additional 4,439 shares during the period. Sterling Capital Management LLC’s holdings in Old Republic International were worth $962,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Stifel Financial Corp lifted its position in shares of Old Republic International by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider’s stock worth $1,236,000 after purchasing an additional 495 shares during the last quarter. Barclays PLC boosted its position in shares of Old Republic International by 51.3% in the third quarter. Barclays PLC now owns 272,914 shares of the insurance provider’s stock valued at $9,665,000 after acquiring an additional 92,591 shares during the period. World Investment Advisors LLC acquired a new stake in shares of Old Republic International in the third quarter worth $531,000. Wilmington Savings Fund Society FSB bought a new position in Old Republic International during the third quarter worth $28,000. Finally, Destination Wealth Management acquired a new position in Old Republic International during the 3rd quarter valued at $217,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now directly owns 33,556 shares of the company’s stock, valued at $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,039 shares of company stock valued at $1,580,733 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Stock Up 0.2 %

NYSE ORI opened at $37.73 on Wednesday. The stock’s 50 day simple moving average is $37.30 and its 200 day simple moving average is $36.62. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a one year low of $28.59 and a one year high of $39.84. The firm has a market cap of $9.33 billion, a PE ratio of 14.35 and a beta of 0.68.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. As a group, sell-side analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, March 10th. Old Republic International’s dividend payout ratio is 44.11%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their target price on shares of Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

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.