Jefferson Bridge Capital LLC Makes New Investment in Old Republic International Corporation $ORI

Jefferson Bridge Capital LLC bought a new position in shares of Old Republic International Corporation (NYSE:ORI) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 58,350 shares of the insurance provider’s stock, valued at approximately $2,663,000. Old Republic International accounts for 2.7% of Jefferson Bridge Capital LLC’s holdings, making the stock its 13th biggest holding.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans lifted its stake in shares of Old Republic International by 2,840.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock valued at $166,763,000 after purchasing an additional 3,793,085 shares during the period. AQR Capital Management LLC lifted its stake in shares of Old Republic International by 55.7% in 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 period. Captrust Financial Advisors lifted its stake in shares of Old Republic International by 98.0% in the 3rd quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after purchasing an additional 1,582,895 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Old Republic International in the 2nd quarter valued at about $27,289,000. Finally, Bank of New York Mellon Corp lifted its stake in shares of Old Republic International by 19.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after purchasing an additional 575,778 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Stock Performance

Shares of ORI opened at $40.48 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a 50 day moving average price of $40.79 and a two-hundred day moving average price of $42.27. The firm has a market capitalization of $9.86 billion, a P/E ratio of 11.94 and a beta of 0.72. Old Republic International Corporation has a 52 week low of $34.53 and a 52 week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the prior year, the business earned $0.90 EPS. Equities analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio is presently 37.17%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ORI. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Finally, Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. The trade was a 16.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Eric Smith acquired 1,135 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $43.10 per share, with a total value of $48,918.50. Following the completion of the acquisition, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

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.