Dark Forest Capital Management LP Has $1.59 Million Position in Old Republic International Co. (NYSE:ORI)

Dark Forest Capital Management LP boosted its stake in shares of Old Republic International Co. (NYSE:ORI) by 220.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 44,059 shares of the insurance provider’s stock after acquiring an additional 30,315 shares during the period. Dark Forest Capital Management LP’s holdings in Old Republic International were worth $1,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORI. Norges Bank bought a new position in shares of Old Republic International in the fourth quarter worth $105,581,000. Raymond James Financial Inc. acquired a new stake in Old Republic International during the fourth quarter worth about $67,054,000. Invesco Ltd. grew its stake in Old Republic International by 26.4% during the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock worth $85,044,000 after buying an additional 490,788 shares in the last quarter. Orca Wealth Management LLC bought a new position in Old Republic International in the 4th quarter valued at about $5,209,000. Finally, Wealthfront Advisers LLC acquired a new position in shares of Old Republic International in the 4th quarter valued at approximately $5,409,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently issued reports on ORI shares. StockNews.com lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research report 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 report on Tuesday, April 1st.

Insider Buying and Selling

In other news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction on 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 owns 46,556 shares in the company, valued at approximately $1,699,294. The trade was a 37.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction 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 directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock worth $1,580,733 in the last 90 days. Insiders own 1.10% of the company’s stock.

Old Republic International Stock Up 3.5 %

Shares of NYSE ORI opened at $37.99 on Wednesday. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 14.44 and a beta of 0.68. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 12 month low of $28.65 and a 12 month high of $39.84. The stock has a 50-day moving average price of $37.44 and a two-hundred day moving average price of $36.70.

Old Republic International (NYSE:ORI) last released its quarterly earnings data 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 net margin of 10.36% and a return on equity of 20.32%. As a group, 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a dividend of $0.29 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.05%. Old Republic International’s dividend payout ratio (DPR) is 44.11%.

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.