Twin Capital Management Inc. Has $2.45 Million Stake in Old Republic International Co. (NYSE:ORI)

Twin Capital Management Inc. boosted its stake in shares of Old Republic International Co. (NYSE:ORI) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,678 shares of the insurance provider’s stock after purchasing an additional 3,414 shares during the quarter. Twin Capital Management Inc.’s holdings in Old Republic International were worth $2,449,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Old Republic International during the fourth quarter worth approximately $105,581,000. Invesco Ltd. grew its holdings in Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock valued at $85,044,000 after buying an additional 490,788 shares in the last quarter. Raymond James Financial Inc. bought a new position in Old Republic International during the 4th quarter worth $67,054,000. JPMorgan Chase & Co. boosted its position in shares of Old Republic International by 4.7% in the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider’s stock valued at $32,249,000 after acquiring an additional 39,620 shares during the period. Finally, Boston Financial Mangement LLC raised its stake in Old Republic International by 1.2% in the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider’s stock worth $28,416,000 after purchasing an additional 9,011 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Stock Down 7.8 %

Old Republic International stock opened at $36.29 on Monday. The company has a market capitalization of $8.97 billion, a PE ratio of 13.80 and a beta of 0.68. The firm’s fifty day moving average is $37.31 and its 200 day moving average is $36.57. 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 Co. has a 12-month low of $28.59 and a 12-month high of $39.84.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, sell-side analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal 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 $0.29 dividend. This is a positive change from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date was Monday, March 10th. Old Republic International’s dividend payout ratio is presently 44.11%.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 9,188 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total transaction of $333,983.80. Following the transaction, the senior vice president now owns 33,556 shares of the company’s stock, valued at $1,219,760.60. This represents a 21.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 over the last ninety days. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ORI. StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler raised their price objective on Old Republic International from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 1st.

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.