Gotham Asset Management LLC Purchases 162,120 Shares of Old Republic International Corporation $ORI

Gotham Asset Management LLC boosted its position in Old Republic International Corporation (NYSE:ORI) by 24.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 817,747 shares of the insurance provider’s stock after buying an additional 162,120 shares during the quarter. Gotham Asset Management LLC owned approximately 0.33% of Old Republic International worth $34,730,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of ORI. Clearstead Trust LLC boosted its holdings in Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the period. Core Alternative Capital bought a new position in shares of Old Republic International in the third quarter worth about $42,000. Caldwell Trust Co lifted its position in shares of Old Republic International by 75.0% during the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock worth $45,000 after purchasing an additional 450 shares during the last quarter. Headlands Technologies LLC bought a new stake in Old Republic International during the 2nd quarter valued at approximately $46,000. Finally, SBI Securities Co. Ltd. boosted its stake in Old Republic International by 29.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after purchasing an additional 274 shares during the period. Institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ORI. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Finally, Weiss Ratings upgraded shares of Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insiders Place Their Bets

In other news, Director John Eric Smith bought 1,135 shares of Old Republic International stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average cost of $43.10 per share, with a total value of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares in the company, valued at $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. This represents a 16.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Stock Up 0.8%

ORI stock opened at $40.41 on Tuesday. Old Republic International Corporation has a twelve month low of $34.43 and a twelve month high of $46.76. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.93 billion, a PE ratio of 11.92 and a beta of 0.73. The business’s 50-day simple moving average is $41.50 and its 200 day simple moving average is $42.33.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same period last year, the firm posted $0.90 earnings per share. On average, research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be given a dividend of $0.315 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 9th. Old Republic International’s dividend payout ratio (DPR) is presently 37.17%.

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.