Summit Financial LLC Grows Position in Old Republic International Co. (NYSE:ORI)

Summit Financial LLC grew its stake in shares of Old Republic International Co. (NYSE:ORI) by 6.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,017 shares of the insurance provider’s stock after purchasing an additional 347 shares during the period. Summit Financial LLC’s holdings in Old Republic International were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ORI. Maridea Wealth Management LLC acquired a new position in Old Republic International during the fourth quarter worth about $269,000. denkapparat Operations GmbH purchased a new position in Old Republic International in the 4th quarter valued at approximately $259,000. Pictet Asset Management Holding SA raised its holdings in Old Republic International by 2.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 34,135 shares of the insurance provider’s stock worth $1,235,000 after purchasing an additional 850 shares during the last quarter. Norges Bank purchased a new stake in Old Republic International during the fourth quarter worth $105,581,000. Finally, Caisse Des Depots ET Consignations purchased a new position in shares of Old Republic International in the fourth quarter valued at $4,034,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Thomas Dare sold 27,457 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the transaction, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. This represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares of the company’s stock, valued at approximately $1,267,864.24. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock valued at $1,580,733 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ORI shares. Piper Sandler increased their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Old Republic International Stock Down 7.8 %

Shares of NYSE:ORI opened at $36.29 on Friday. The company has a market capitalization of $9.01 billion, a P/E ratio of 13.80 and a beta of 0.83. The stock’s fifty day simple moving average is $37.31 and its 200-day simple moving average is $36.55. Old Republic International Co. has a 52-week low of $28.59 and a 52-week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

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

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.29 dividend. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.20%. Old Republic International’s payout ratio is 44.11%.

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.