Magnetar Financial LLC Makes New Investment in Old Republic International Corporation $ORI

Magnetar Financial LLC acquired a new stake in shares of Old Republic International Corporation (NYSE:ORI) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 122,187 shares of the insurance provider’s stock, valued at approximately $4,697,000.

Other large investors have also modified their holdings of the company. 1 North Wealth Services LLC acquired a new position in Old Republic International during the first quarter worth approximately $29,000. Quarry LP boosted its holdings in shares of Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after purchasing an additional 731 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of Old Republic International during the 1st quarter valued at $35,000. Ameritas Advisory Services LLC acquired a new stake in shares of Old Republic International during the 2nd quarter worth $34,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Old Republic International in the 1st quarter worth $36,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Old Republic International news, Director Therace Risch bought 1,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were acquired 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 in the company, valued at $415,862.50. The trade was a 10.39% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,680 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $44.54, for a total value of $297,527.20. Following the completion of the transaction, the senior vice president owned 29,075 shares in the company, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Old Republic International Price Performance

Shares of NYSE ORI opened at $45.79 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.64 and a quick ratio of 0.25. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $46.35. The company has a market capitalization of $11.33 billion, a price-to-earnings ratio of 15.32 and a beta of 0.79. The business has a 50-day moving average of $41.80 and a 200-day moving average of $39.27.

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

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.