ASK Capital Investment Managers LLC Acquires 86,670 Shares of Old Republic International Corporation $ORI

ASK Capital Investment Managers LLC bought a new position in shares of Old Republic International Corporation (NYSE:ORI) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 86,670 shares of the insurance provider’s stock, valued at approximately $3,234,000. Old Republic International makes up 3.6% of ASK Capital Investment Managers LLC’s holdings, making the stock its 12th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NorthCrest Asset Manangement LLC increased its stake in Old Republic International by 90.1% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 16,941 shares of the insurance provider’s stock worth $653,000 after acquiring an additional 8,030 shares during the last quarter. Dupree Financial Group LLC raised its holdings in shares of Old Republic International by 1.5% in the 3rd quarter. Dupree Financial Group LLC now owns 175,928 shares of the insurance provider’s stock valued at $6,564,000 after acquiring an additional 2,562 shares in the last quarter. Insight Wealth Strategies LLC boosted its position in shares of Old Republic International by 1.4% during the 3rd quarter. Insight Wealth Strategies LLC now owns 86,825 shares of the insurance provider’s stock valued at $3,239,000 after acquiring an additional 1,198 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Old Republic International by 3.3% during the 3rd quarter. GAMMA Investing LLC now owns 8,223 shares of the insurance provider’s stock valued at $307,000 after acquiring an additional 266 shares during the last quarter. Finally, Avidian Wealth Enterprises LLC boosted its position in shares of Old Republic International by 1.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 21,562 shares of the insurance provider’s stock valued at $804,000 after acquiring an additional 300 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 4,386 shares of the company’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total value of $184,255.86. Following the completion of the transaction, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,171,028.75. This represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jeffrey Lange sold 14,075 shares of the stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total value of $615,922.00. Following the transaction, the senior vice president owned 12,244 shares in the company, valued at $535,797.44. This trade represents a 53.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 33,374 shares of company stock worth $1,452,714. 1.32% of the stock is currently owned by corporate insiders.

Old Republic International Stock Performance

NYSE ORI opened at $38.19 on Wednesday. Old Republic International Corporation has a 52-week low of $36.65 and a 52-week high of $46.76. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $9.22 billion, a P/E ratio of 11.57 and a beta of 0.56. The company has a fifty day moving average of $40.60 and a 200-day moving average of $40.43.

Old Republic International (NYSE:ORI) last announced its earnings results 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 company had revenue of $2.50 billion during 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 firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, equities research analysts predict that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th were paid a dividend of $0.3150 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.26 annualized dividend and a yield of 3.3%. Old Republic International’s payout ratio is 29.79%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Piper Sandler cut their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Weiss Ratings cut shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Finally, Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Old Republic International presently has an average rating of “Hold” and an average price target of $41.50.

Old Republic International Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company headquartered in Chicago, Illinois. Founded in 1887, the company operates through subsidiaries that provide insurance products and related services to businesses, individuals, and financial institutions.

Old Republic’s general insurance operations offer commercial property and casualty coverage, including workers’ compensation, commercial automobile, general liability, property, transportation, construction, and specialized industry insurance.