Matrix Private Capital Group LLC Makes New Investment in Old Republic International Corporation $ORI

Matrix Private Capital Group LLC bought a new position in shares of Old Republic International Corporation (NYSE:ORIFree Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,686 shares of the insurance provider’s stock, valued at approximately $506,000.

A number of other institutional investors also recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB raised its holdings in shares of Old Republic International by 28.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 222 shares in the last quarter. Aptus Capital Advisors LLC grew its stake in shares of Old Republic International by 5.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 257 shares in the last quarter. waypoint wealth counsel grew its stake in shares of Old Republic International by 3.3% during the fourth quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider’s stock worth $383,000 after purchasing an additional 265 shares in the last quarter. Waverly Advisors LLC increased its holdings in Old Republic International by 2.3% in the first quarter. Waverly Advisors LLC now owns 12,760 shares of the insurance provider’s stock valued at $509,000 after buying an additional 288 shares during the last quarter. Finally, Mainsail Asset Management LLC increased its holdings in Old Republic International by 5.9% in the fourth quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock valued at $246,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president directly owned 32,261 shares in the company, valued at $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORI. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Piper Sandler cut their target price on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Raymond James Financial set a $44.00 target price on Old Republic International in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

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Old Republic International Trading Up 2.2%

NYSE:ORI opened at $42.23 on Friday. The company has a market capitalization of $10.26 billion, a PE ratio of 9.98 and a beta of 0.58. Old Republic International Corporation has a 52-week low of $35.60 and a 52-week high of $46.76. The stock’s 50 day moving average price is $39.86 and its 200 day moving average price is $40.54. The company has a quick ratio of 0.23, a current ratio of 0.68 and a debt-to-equity ratio of 0.38.

Old Republic International (NYSE:ORIGet Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.03). The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 earnings per share. On average, research analysts anticipate that Old Republic International Corporation will post 2.82 EPS for the current year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s dividend payout ratio is currently 29.79%.

About Old Republic International

(Free Report)

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.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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