Gladius Capital Management LP Takes Position in Old Republic International Co. (NYSE:ORI)

Gladius Capital Management LP acquired a new position in shares of Old Republic International Co. (NYSE:ORI) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 1,401 shares of the insurance provider’s stock, valued at approximately $41,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORI. Northern Trust Corp grew its stake in shares of Old Republic International by 13.1% during the 3rd quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock worth $66,290,000 after acquiring an additional 284,491 shares in the last quarter. Invesco Ltd. increased its stake in Old Republic International by 55.2% in the 3rd quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock valued at $60,966,000 after buying an additional 804,803 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Old Republic International by 1.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,817,104 shares of the insurance provider’s stock worth $53,423,000 after buying an additional 32,917 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Old Republic International by 3.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock worth $48,827,000 after buying an additional 58,008 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of Old Republic International by 6.9% in the 4th quarter. LSV Asset Management now owns 1,632,300 shares of the insurance provider’s stock valued at $47,990,000 after acquiring an additional 105,310 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Buying and Selling at Old Republic International

In other news, VP Thomas Dare sold 1,292 shares of the firm’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.95, for a total transaction of $39,987.40. Following the completion of the sale, the vice president now owns 47,764 shares in the company, valued at approximately $1,478,295.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Barbara Adachi bought 1,925 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was bought at an average price of $28.60 per share, with a total value of $55,055.00. Following the completion of the acquisition, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas Dare sold 1,292 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.95, for a total transaction of $39,987.40. Following the completion of the sale, the vice president now directly owns 47,764 shares of the company’s stock, valued at approximately $1,478,295.80. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Old Republic International Stock Performance

Shares of NYSE ORI traded up $0.05 during midday trading on Thursday, hitting $31.19. 1,367,235 shares of the company’s stock were exchanged, compared to its average volume of 1,752,617. The company has a quick ratio of 0.25, a current ratio of 1.28 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $8.48 billion, a PE ratio of 12.14 and a beta of 0.81. Old Republic International Co. has a 12 month low of $24.17 and a 12 month high of $31.32. The company’s 50 day moving average price is $29.92 and its 200 day moving average price is $29.12.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 3.40%. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s payout ratio is 41.25%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ORI. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Piper Sandler boosted their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 1st.

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.