Versor Investments LP Buys 14,235 Shares of Old Republic International Corporation $ORI

Versor Investments LP grew its stake in shares of Old Republic International Corporation (NYSE:ORI) by 230.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,406 shares of the insurance provider’s stock after buying an additional 14,235 shares during the period. Versor Investments LP’s holdings in Old Republic International were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Old Republic International by 2,840.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after buying an additional 3,793,085 shares in the last quarter. Norges Bank purchased a new stake in Old Republic International in the 2nd quarter worth $115,071,000. AQR Capital Management LLC boosted its holdings in shares of Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after purchasing an additional 2,066,965 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Old Republic International by 43.7% during the 2nd quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider’s stock valued at $103,877,000 after purchasing an additional 821,975 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new position in shares of Old Republic International during the second quarter valued at about $27,289,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Trading Up 2.9%

Shares of ORI opened at $42.27 on Wednesday. The firm has a market capitalization of $10.46 billion, a price-to-earnings ratio of 12.47 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.64 and a quick ratio of 0.26. Old Republic International Corporation has a 1-year low of $34.43 and a 1-year high of $46.76. The company has a 50-day moving average of $43.09 and a 200 day moving average of $41.69.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period last year, the business posted $0.90 earnings per share. On average, research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were issued a $2.50 dividend. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is currently 34.22%.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,680 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the transaction, the senior vice president owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.10% of the company’s stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday, December 24th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

Old Republic International Company 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.