ExodusPoint Capital Management LP Has $3.66 Million Stake in Old Republic International Co. (NYSE:ORI)

ExodusPoint Capital Management LP lowered its stake in Old Republic International Co. (NYSE:ORI) by 44.0% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 101,025 shares of the insurance provider’s stock after selling 79,228 shares during the quarter. ExodusPoint Capital Management LP’s holdings in Old Republic International were worth $3,656,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in Old Republic International in the 4th quarter worth approximately $105,581,000. Raymond James Financial Inc. acquired a new stake in shares of Old Republic International in the fourth quarter worth $67,054,000. Orca Wealth Management LLC bought a new stake in shares of Old Republic International during the 4th quarter worth $5,209,000. Wealthfront Advisers LLC acquired a new position in Old Republic International in the 4th quarter valued at $5,409,000. Finally, Franklin Resources Inc. raised its holdings in Old Republic International by 39.6% in the 3rd quarter. Franklin Resources Inc. now owns 454,792 shares of the insurance provider’s stock worth $16,209,000 after acquiring an additional 128,896 shares during the period. Institutional investors own 70.92% of the company’s stock.

Insider Activity

In related news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 138,222 shares in the company, valued at $5,335,369.20. This represents a 3.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. The trade was a 37.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,039 shares of company stock worth $1,580,733. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ORI has been the topic of several research analyst reports. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler upped their price target on Old Republic International from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, April 1st.

Old Republic International Stock Performance

NYSE ORI opened at $36.29 on Monday. The company’s fifty day moving average is $37.31 and its two-hundred day moving average is $36.57. Old Republic International Co. has a 52-week low of $28.59 and a 52-week high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The firm has a market capitalization of $8.97 billion, a price-to-earnings ratio of 13.80 and a beta of 0.68.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Equities research analysts forecast that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a $0.29 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is 44.11%.

About Old Republic International

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.