Sterling Capital Management LLC Acquires 4,439 Shares of Old Republic International Co. (NYSE:ORI)

Sterling Capital Management LLC lifted its stake in Old Republic International Co. (NYSE:ORI) by 20.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,593 shares of the insurance provider’s stock after purchasing an additional 4,439 shares during the period. Sterling Capital Management LLC’s holdings in Old Republic International were worth $962,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other news, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction 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 sale, the senior vice president now owns 34,679 shares of the company’s stock, valued at $1,267,864.24. The trade was a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the firm’s 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 directly owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,039 shares of company stock worth $1,580,733. 1.10% of the stock is owned by corporate insiders.

Old Republic International Price Performance

NYSE ORI opened at $37.73 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. 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 simple moving average of $37.30 and a 200 day simple moving average of $36.62. The stock has a market cap of $9.33 billion, a price-to-earnings ratio of 14.35 and a beta of 0.68.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 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%. Analysts anticipate 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 declared 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 dividend on an annualized basis and a dividend yield of 3.07%. This is a positive change 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%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ORI. StockNews.com lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler boosted 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.