Plato Investment Management Ltd Makes New Investment in Old Republic International Corporation $ORI

Plato Investment Management Ltd bought a new stake in Old Republic International Corporation (NYSE:ORI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 24,958 shares of the insurance provider’s stock, valued at approximately $1,145,000.

Other large investors also recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new stake in Old Republic International in the 4th quarter worth about $26,000. Torren Management LLC purchased a new stake in Old Republic International in the 4th quarter valued at about $27,000. JPL Wealth Management LLC bought a new position in shares of Old Republic International during the 3rd quarter worth approximately $27,000. Quest 10 Wealth Builders Inc. bought a new position in shares of Old Republic International during the 4th quarter worth approximately $31,000. Finally, Clearstead Trust LLC boosted its stake in shares of Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after buying an additional 288 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Down 0.0%

Old Republic International stock opened at $39.26 on Monday. The firm has a 50 day moving average price of $40.64 and a 200-day moving average price of $42.06. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a twelve month low of $35.60 and a twelve month high of $46.76. The company has a market capitalization of $9.53 billion, a P/E ratio of 10.52 and a beta of 0.63.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period last year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were paid a $0.315 dividend. The ex-dividend date was Monday, March 9th. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. Old Republic International’s dividend payout ratio is presently 33.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Raymond James Financial set a $44.00 price target on Old Republic International in a research report on Monday, April 27th. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. Finally, Piper Sandler raised their target price on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Old Republic International presently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

Insider Activity at Old Republic International

In other news, Director John Eric Smith purchased 1,135 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were purchased at an average price of $43.10 per share, with a total value of $48,918.50. Following the transaction, the director directly owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This 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 the SEC website. 1.32% of the stock is owned by corporate insiders.

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.