Los Angeles Capital Management LLC Boosts Stake in Old Republic International Corporation $ORI

Los Angeles Capital Management LLC increased its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 2,198.9% during the second quarter, HoldingsChannel.com reports. The fund owned 171,409 shares of the insurance provider’s stock after buying an additional 163,953 shares during the period. Los Angeles Capital Management LLC’s holdings in Old Republic International were worth $6,589,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ORI. 1 North Wealth Services LLC purchased a new position in Old Republic International in the 1st quarter worth approximately $29,000. Quarry LP raised its holdings in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 731 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Old Republic International during the second quarter worth about $34,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Old Republic International in the 1st quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. purchased a new position in Old Republic International in the first quarter worth approximately $36,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Transactions at Old Republic International

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Therace Risch acquired 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were bought at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the transaction, the director owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. This represents a 10.39% increase in their position. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by company insiders.

Old Republic International Price Performance

Shares of ORI opened at $41.20 on Monday. The company has a market cap of $10.19 billion, a P/E ratio of 13.78 and a beta of 0.79. Old Republic International Corporation has a fifty-two week low of $33.00 and a fifty-two week high of $44.00. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. The firm’s 50 day moving average price is $41.10 and its 200 day moving average price is $38.86.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. On average, research analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.8%. Old Republic International’s dividend payout ratio is 38.80%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ORI. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price objective for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Piper Sandler lowered their price objective on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, Old Republic International currently has a consensus rating of “Strong Buy” and an average target price of $46.50.

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.