Quantinno Capital Management LP Boosts Holdings in Old Republic International Corporation $ORI

Quantinno Capital Management LP raised its stake in Old Republic International Corporation (NYSE:ORI) by 31.4% during the first quarter, Holdings Channel reports. The fund owned 1,174,530 shares of the insurance provider’s stock after buying an additional 280,858 shares during the period. Quantinno Capital Management LP’s holdings in Old Republic International were worth $46,864,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Old Republic International by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock valued at $477,000 after acquiring an additional 2,867 shares during the period. NewEdge Advisors LLC boosted its position in Old Republic International by 121.9% during the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock worth $944,000 after purchasing an additional 13,224 shares during the period. Jones Financial Companies Lllp boosted its position in Old Republic International by 122.1% during the first quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after purchasing an additional 2,493 shares during the period. Goldman Sachs Group Inc. boosted its position in Old Republic International by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock worth $62,480,000 after purchasing an additional 148,891 shares during the period. Finally, Sivia Capital Partners LLC increased its stake in shares of Old Republic International by 31.8% in the second quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock worth $323,000 after purchasing an additional 2,028 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Price Performance

Old Republic International stock opened at $44.58 on Thursday. The stock has a market cap of $10.83 billion, a price-to-earnings ratio of 10.54 and a beta of 0.58. The company has a quick ratio of 0.23, a current ratio of 0.68 and a debt-to-equity ratio of 0.38. The business has a 50-day simple moving average of $40.12 and a 200 day simple moving average of $40.54. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.81 EPS. On average, research analysts forecast that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International’s payout ratio is currently 29.79%.

Analyst Upgrades and Downgrades

ORI has been the topic of a number of analyst reports. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a report on Monday, April 27th. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Finally, Piper Sandler decreased their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the transaction, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

About Old Republic International

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.