Algert Global LLC Buys Shares of 26,350 Old Republic International Co. (NYSE:ORI)

Algert Global LLC purchased a new position in shares of Old Republic International Co. (NYSE:ORI) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,350 shares of the insurance provider’s stock, valued at approximately $814,000.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Old Republic International by 6.3% during the first quarter. Vanguard Group Inc. now owns 28,156,630 shares of the insurance provider’s stock worth $864,972,000 after purchasing an additional 1,661,147 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Old Republic International by 7.6% during the second quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider’s stock worth $233,073,000 after purchasing an additional 532,251 shares during the period. LSV Asset Management lifted its holdings in shares of Old Republic International by 14.4% during the second quarter. LSV Asset Management now owns 1,838,307 shares of the insurance provider’s stock worth $56,804,000 after purchasing an additional 231,600 shares during the period. Raymond James & Associates lifted its holdings in shares of Old Republic International by 1.8% during the second quarter. Raymond James & Associates now owns 1,047,289 shares of the insurance provider’s stock worth $32,361,000 after purchasing an additional 18,825 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Old Republic International by 4.4% during the second quarter. ProShare Advisors LLC now owns 1,033,320 shares of the insurance provider’s stock worth $31,930,000 after purchasing an additional 43,458 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Piper Sandler increased their price target on Old Republic International from $35.00 to $36.00 and gave the stock an “overweight” rating in a report on Friday.

Old Republic International Price Performance

Old Republic International stock opened at $35.86 on Friday. Old Republic International Co. has a one year low of $26.40 and a one year high of $36.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. The business has a fifty day moving average of $34.93 and a two-hundred day moving average of $32.21. The company has a market cap of $9.75 billion, a P/E ratio of 13.95 and a beta of 0.84.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, July 25th. The insurance provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.15. Old Republic International had a return on equity of 12.57% and a net margin of 8.59%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.62 earnings per share. As a group, analysts predict that Old Republic International Co. will post 2.83 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, September 6th were given a $1.06 dividend. This represents a dividend yield of 3.05%. The ex-dividend date was Friday, September 6th. Old Republic International’s dividend payout ratio is currently 41.25%.

Old Republic International Company 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.