Systematic Financial Management LP Increases Position in Old Republic International Co. (NYSE:ORI)

Systematic Financial Management LP increased its stake in Old Republic International Co. (NYSE:ORI) by 3.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 910,225 shares of the insurance provider’s stock after acquiring an additional 27,443 shares during the period. Systematic Financial Management LP owned about 0.36% of Old Republic International worth $32,941,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Old Republic International by 20.3% in the fourth quarter. Royal Bank of Canada now owns 380,225 shares of the insurance provider’s stock worth $13,760,000 after purchasing an additional 64,245 shares during the last quarter. Redwood Investment Management LLC lifted its stake in Old Republic International by 202.2% in the fourth quarter. Redwood Investment Management LLC now owns 141,230 shares of the insurance provider’s stock worth $5,111,000 after purchasing an additional 94,503 shares during the last quarter. Quantinno Capital Management LP lifted its stake in Old Republic International by 10.0% in the fourth quarter. Quantinno Capital Management LP now owns 153,076 shares of the insurance provider’s stock worth $5,540,000 after purchasing an additional 13,899 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Old Republic International in the fourth quarter worth $1,120,000. Finally, Nuveen Asset Management LLC lifted its stake in Old Republic International by 1.1% in the fourth quarter. Nuveen Asset Management LLC now owns 813,206 shares of the insurance provider’s stock worth $29,430,000 after purchasing an additional 8,551 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on ORI. Piper Sandler set a $42.00 price target on shares of Old Republic International in a research note on Friday, April 25th. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Raymond James set a $42.00 target price on Old Republic International and gave the stock an “outperform” rating in a research note on Monday, April 28th.

Old Republic International Price Performance

ORI stock opened at $38.44 on Friday. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The company has a market cap of $9.50 billion, a P/E ratio of 14.61 and a beta of 0.74. The firm has a 50-day moving average of $37.70 and a 200 day moving average of $36.98. 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 (NYSE:ORI) last announced its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.29 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.16 annualized dividend and a yield of 3.02%. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is currently 47.15%.

Insider Buying and Selling

In other news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the transaction, the chief executive officer now owns 138,222 shares in the company, valued at $5,335,369.20. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,354 shares of company stock worth $1,602,871. 1.10% of the stock is owned by insiders.

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.