Artemis Investment Management LLP Buys New Shares in Old Republic International Corporation $ORI

Artemis Investment Management LLP purchased a new stake in shares of Old Republic International Corporation (NYSE:ORI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 40,231 shares of the insurance provider’s stock, valued at approximately $1,836,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Thrivent Financial for Lutherans increased its holdings in Old Republic International by 2,840.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after acquiring an additional 3,793,085 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Old Republic International by 55.7% during the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after purchasing an additional 2,066,965 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Old Republic International by 98.0% during the third quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after purchasing an additional 1,582,895 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Old Republic International in the second quarter worth approximately $27,289,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Old Republic International by 19.1% in the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock worth $152,279,000 after purchasing an additional 575,778 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the transaction, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Eric Smith purchased 1,135 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were purchased at an average price of $43.10 per share, with a total value of $48,918.50. Following the acquisition, the director directly owned 4,276 shares in the company, valued at $184,295.60. This represents a 36.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.32% of the company’s stock.

Old Republic International Trading Down 1.6%

Old Republic International stock opened at $39.31 on Friday. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76. The firm’s 50 day moving average price is $40.78 and its 200-day moving average price is $42.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.27. The stock has a market cap of $9.57 billion, a P/E ratio of 10.54 and a beta of 0.63.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, equities analysts predict that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a dividend of $0.315 per share. The ex-dividend date was Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. Old Republic International’s dividend payout ratio (DPR) is 33.78%.

Analyst Ratings Changes

Several analysts have recently commented on ORI shares. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a report on Monday, April 27th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Piper Sandler raised their price target on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, April 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.