B. Riley Wealth Advisors Inc. Takes Position in Old Republic International Co. (NYSE:ORI) (2024)

Posted by Defense World Staff on Jun 26th, 2024

B. Riley Wealth Advisors Inc. acquired a new stake in shares of Old Republic International Co. (NYSE:ORI – Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,575 shares of the insurance provider’s stock, valued at approximately $311,000.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in shares of Old Republic International by 12.7% during the 4th quarter. Nordea Investment Management AB now owns 436,420 shares of the insurance provider’s stock valued at $12,826,000 after acquiring an additional 49,329 shares during the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in Old Republic International in the 4th quarter valued at approximately $980,000. Alaska Permanent Fund Corp grew its holdings in Old Republic International by 9.2% in the 4th quarter. Alaska Permanent Fund Corp now owns 436,716 shares of the insurance provider’s stock valued at $12,839,000 after buying an additional 36,754 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Old Republic International in the 4th quarter valued at approximately $3,421,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in Old Republic International by 92.2% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 93,599 shares of the insurance provider’s stock valued at $2,522,000 after buying an additional 44,895 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 4,503 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $31.28, for a total transaction of $140,853.84. Following the completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,049,631.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Old Republic International news, Director Therace Risch purchased 6,086 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was purchased at an average cost of $29.77 per share, with a total value of $181,180.22. Following the acquisition, the director now directly owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Carolyn Monroe sold 4,503 shares of the firm’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $31.28, for a total value of $140,853.84. Following the sale, the senior vice president now directly owns 33,556 shares of the company’s stock, valued at $1,049,631.68. The disclosure for this sale can be found here. Insiders sold 9,172 shares of company stock worth $282,286 in the last 90 days. 0.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ORI shares. Piper Sandler raised their target price on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

Read Our Latest Stock Analysis on ORI

Old Republic International Price Performance

Shares of ORI stock opened at $30.76 on Wednesday. The stock has a 50 day moving average of $30.74 and a two-hundred day moving average of $29.77. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.31. Old Republic International Co. has a 12 month low of $24.17 and a 12 month high of $32.26. The company has a market capitalization of $8.36 billion, a P/E ratio of 11.97 and a beta of 0.83.

Old Republic International (NYSE:ORI – Get Free Report) last announced its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. The company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. As a group, equities analysts expect that Old Republic International Co. will post 2.73 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were given a dividend of $0.265 per share. The ex-dividend date was Tuesday, June 4th. This represents a $1.06 annualized dividend and a dividend yield of 3.45%. Old Republic International’s dividend payout ratio (DPR) is presently 41.25%.

About Old Republic International

(Free Report)

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.

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