Maridea Wealth Management LLC Invests $269,000 in Old Republic International Co. (NYSE:ORI)

Maridea Wealth Management LLC acquired a new stake in shares of Old Republic International Co. (NYSE:ORI) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,428 shares of the insurance provider’s stock, valued at approximately $269,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ORI. Norges Bank acquired a new position in Old Republic International during the 4th quarter valued at approximately $105,581,000. Raymond James Financial Inc. acquired a new position in shares of Old Republic International in the 4th quarter valued at $67,054,000. JPMorgan Chase & Co. raised its stake in Old Republic International by 4.7% in the 4th quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider’s stock worth $32,249,000 after acquiring an additional 39,620 shares during the last quarter. Systematic Financial Management LP lifted its position in Old Republic International by 9.6% during the 3rd quarter. Systematic Financial Management LP now owns 882,782 shares of the insurance provider’s stock worth $31,268,000 after acquiring an additional 77,583 shares during the period. Finally, Boston Financial Mangement LLC grew its stake in Old Republic International by 1.2% during the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider’s stock valued at $28,416,000 after purchasing an additional 9,011 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Down 0.2 %

NYSE:ORI opened at $38.98 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The company’s fifty day moving average price is $37.04 and its 200-day moving average price is $36.42. Old Republic International Co. has a 1-year low of $28.59 and a 1-year high of $39.31. The firm has a market capitalization of $9.67 billion, a P/E ratio of 14.82 and a beta of 0.83.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. As a group, equities research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a dividend of $0.29 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 2.98%. The ex-dividend date was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is currently 44.11%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Insiders Place Their Bets

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 9,188 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares in the company, valued at $1,219,760.60. This trade represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.00% 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.