Ontario Teachers Pension Plan Board Invests $587,000 in Old Republic International Co. (NYSE:ORI)

Ontario Teachers Pension Plan Board bought a new stake in Old Republic International Co. (NYSE:ORI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 16,219 shares of the insurance provider’s stock, valued at approximately $587,000.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Old Republic International in the third quarter valued at $28,000. Fairway Wealth LLC purchased a new stake in shares of Old Republic International in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Old Republic International in the 4th quarter valued at about $34,000. Core Alternative Capital purchased a new position in Old Republic International during the 4th quarter worth approximately $36,000. Finally, Synergy Asset Management LLC acquired a new position in Old Republic International during the fourth quarter worth approximately $39,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the transaction, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. This represents a 3.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jeffrey Lange sold 1,098 shares of Old Republic International stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. This trade represents 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 over the last quarter. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Stock Up 0.1 %

ORI opened at $37.79 on Thursday. Old Republic International Co. has a 52 week low of $28.59 and a 52 week high of $39.84. The business has a 50 day moving average price of $37.32 and a two-hundred day moving average price of $36.63. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The company has a market cap of $9.34 billion, a PE ratio of 14.37 and a beta of 0.68.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS 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, research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is 44.11%.

Wall Street Analysts Forecast Growth

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

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.