Quarry LP Acquires Shares of 1,334 Old Republic International Co. (NYSE:ORI) (2024)

Posted by Defense World Staff on Jun 18th, 2024

Quarry LP acquired a new stake in Old Republic International Co. (NYSE:ORI – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,334 shares of the insurance provider’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kovitz Investment Group Partners LLC increased its stake in Old Republic International by 5.8% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 8,424 shares of the insurance provider’s stock valued at $248,000 after buying an additional 465 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Old Republic International by 62.7% during the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 526 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Old Republic International by 1.5% during the 3rd quarter. Federated Hermes Inc. now owns 37,524 shares of the insurance provider’s stock worth $1,011,000 after purchasing an additional 537 shares during the last quarter. Coldstream Capital Management Inc. increased its stake in shares of Old Republic International by 3.0% during the 4th quarter. Coldstream Capital Management Inc. now owns 18,710 shares of the insurance provider’s stock worth $550,000 after purchasing an additional 543 shares during the last quarter. Finally, Providence Capital Advisors LLC increased its stake in shares of Old Republic International by 0.7% during the 3rd quarter. Providence Capital Advisors LLC now owns 97,707 shares of the insurance provider’s stock worth $2,632,000 after purchasing an additional 668 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ORI. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Piper Sandler raised their price target on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st.

Get Our Latest Report on Old Republic International

Insider Buying and Selling at Old Republic International

In other news, Director Therace Risch purchased 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average cost of $29.77 per share, with a total value of $181,180.22. Following the acquisition, the director now directly owns 6,086 shares in the company, valued at $181,180.22. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Therace Risch purchased 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average cost of $29.77 per share, with a total value of $181,180.22. Following the acquisition, the director now directly owns 6,086 shares in the company, valued at $181,180.22. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carolyn Monroe sold 3,377 shares of Old Republic International stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.04, for a total transaction of $101,445.08. Following the sale, the senior vice president now directly owns 33,556 shares of the company’s stock, valued at $1,008,022.24. The disclosure for this sale can be found here. Insiders sold a total of 9,172 shares of company stock valued at $282,286 in the last three months. Company insiders own 0.78% of the company’s stock.

Old Republic International Stock Up 1.0 %

ORI opened at $29.96 on Tuesday. The company has a 50 day moving average of $30.60 and a 200 day moving average of $29.71. The company has a market cap of $8.14 billion, a PE ratio of 11.66 and a beta of 0.83. Old Republic International Co. has a 12 month low of $24.17 and a 12 month high of $32.26. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31.

Old Republic International (NYSE:ORI – Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. On average, sell-side analysts expect that Old Republic International Co. will post 2.73 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, June 4th were issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.54%. The ex-dividend date was Tuesday, June 4th. Old Republic International’s payout ratio is 41.25%.

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.

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