Gabelli Funds LLC Purchases 22,400 Shares of Old Republic International Corporation $ORI

Gabelli Funds LLC boosted its position in Old Republic International Corporation (NYSE:ORI) by 32.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 90,450 shares of the insurance provider’s stock after purchasing an additional 22,400 shares during the period. Gabelli Funds LLC’s holdings in Old Republic International were worth $3,609,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. FCA Corp TX increased its position in Old Republic International by 1.3% during the first quarter. FCA Corp TX now owns 82,776 shares of the insurance provider’s stock worth $3,303,000 after buying an additional 1,087 shares during the last quarter. Compound Planning Inc. lifted its position in shares of Old Republic International by 7.1% in the first quarter. Compound Planning Inc. now owns 8,746 shares of the insurance provider’s stock valued at $349,000 after buying an additional 583 shares during the last quarter. Inceptionr LLC bought a new position in shares of Old Republic International during the 1st quarter worth approximately $2,050,000. Bank of Nova Scotia increased its holdings in shares of Old Republic International by 23.6% during the 1st quarter. Bank of Nova Scotia now owns 10,885 shares of the insurance provider’s stock worth $434,000 after acquiring an additional 2,076 shares during the last quarter. Finally, Lido Advisors LLC increased its holdings in shares of Old Republic International by 24.2% during the 1st quarter. Lido Advisors LLC now owns 10,200 shares of the insurance provider’s stock worth $407,000 after acquiring an additional 1,985 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

NYSE:ORI opened at $44.39 on Wednesday. The stock has a market cap of $10.78 billion, a P/E ratio of 10.49 and a beta of 0.58. The stock has a 50 day simple moving average of $40.02 and a 200 day simple moving average of $40.53. The company has a current ratio of 0.68, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a 1-year low of $35.60 and a 1-year high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.81 earnings per share. Research analysts anticipate that Old Republic International Corporation will post 2.82 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s payout ratio is presently 29.79%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Piper Sandler dropped their price target on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a report on Monday, April 27th. Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a research note on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $41.50.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the transaction, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

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. 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.