Dockside LLC Acquires New Shares in Old Republic International Corporation $ORI

Dockside LLC acquired a new stake in Old Republic International Corporation (NYSE:ORI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,025 shares of the insurance provider’s stock, valued at approximately $1,005,000.

Other hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Old Republic International in the 4th quarter valued at approximately $26,000. Torren Management LLC acquired a new stake in Old Republic International during the 4th quarter valued at $27,000. Commonwealth Retirement Investments LLC acquired a new stake in Old Republic International during the 4th quarter valued at $27,000. JPL Wealth Management LLC acquired a new stake in Old Republic International during the 3rd quarter valued at $27,000. Finally, Quest 10 Wealth Builders Inc. acquired a new stake in Old Republic International during the 4th quarter valued at $31,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

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

Old Republic International Price Performance

ORI stock opened at $38.53 on Monday. Old Republic International Corporation has a 52-week low of $35.60 and a 52-week high of $46.76. The stock’s fifty day simple moving average is $39.64 and its 200-day simple moving average is $41.45. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $9.36 billion, a price-to-earnings ratio of 10.33 and a beta of 0.60.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter last year, the business earned $0.81 EPS. Old Republic International’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities research analysts expect that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a $0.315 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a yield of 3.3%. Old Republic International’s dividend payout ratio (DPR) is presently 33.78%.

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.