Old Republic International Co. (NYSE:ORI) Stake Decreased by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP trimmed its holdings in Old Republic International Co. (NYSE:ORI) by 44.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,025 shares of the insurance provider’s stock after selling 79,228 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Old Republic International were worth $3,656,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Old Republic International during the 4th quarter worth $105,581,000. Raymond James Financial Inc. acquired a new stake in shares of Old Republic International in the 4th quarter worth approximately $67,054,000. JPMorgan Chase & Co. boosted its holdings 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 in the last quarter. Boston Financial Mangement LLC increased its stake in shares of Old Republic International by 1.2% during the fourth quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider’s stock valued at $28,416,000 after acquiring an additional 9,011 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Old Republic International by 0.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 561,406 shares of the insurance provider’s stock valued at $19,885,000 after acquiring an additional 1,999 shares during the period. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Down 7.8 %

NYSE ORI opened at $36.29 on Monday. The company has a market capitalization of $8.97 billion, a P/E ratio of 13.80 and a beta of 0.68. Old Republic International Co. has a 12 month low of $28.59 and a 12 month high of $39.84. 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 50 day simple moving average is $37.31 and its 200 day simple moving average is $36.57.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts expect that Old Republic International Co. will post 3.17 earnings per share 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 paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.20%. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is currently 44.11%.

Insiders Place Their Bets

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,039 shares of company stock worth $1,580,733. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ORI. StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Piper Sandler raised their target price on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, April 1st.

Old Republic International 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.