Norges Bank Invests $105.58 Million in Old Republic International Co. (NYSE:ORI)

Norges Bank acquired a new position in Old Republic International Co. (NYSE:ORI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,917,395 shares of the insurance provider’s stock, valued at approximately $105,581,000.

A number of other institutional investors also recently bought and sold shares of ORI. Janus Henderson Group PLC increased its position in Old Republic International by 5.9% in the third quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider’s stock worth $4,262,000 after buying an additional 6,664 shares in the last quarter. Atomi Financial Group Inc. increased its holdings in Old Republic International by 4.1% in the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock worth $279,000 after acquiring an additional 302 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in Old Republic International by 37.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider’s stock worth $2,595,000 after acquiring an additional 19,400 shares during the period. Orca Wealth Management LLC purchased a new position in Old Republic International during the fourth quarter valued at approximately $5,209,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Old Republic International by 5.3% in the third quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider’s stock worth $30,160,000 after purchasing an additional 42,934 shares during the period. 70.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ORI has been the topic of several recent analyst reports. StockNews.com downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler boosted their price objective on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday.

Insider Buying and Selling

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the 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 completion of the transaction, the vice president now owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction 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 $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.00% of the company’s stock.

Old Republic International Trading Up 1.1 %

ORI stock opened at $39.64 on Wednesday. The company has a market capitalization of $9.84 billion, a price-to-earnings ratio of 15.07 and a beta of 0.83. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a 1-year low of $28.59 and a 1-year high of $39.84. The business has a 50 day simple moving average of $37.17 and a two-hundred day simple moving average of $36.50.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal 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 issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.93%. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s payout ratio 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.