Bellecapital International Ltd. Acquires Shares of 5,713 Old Republic International Co. (NYSE:ORI)

Bellecapital International Ltd. purchased a new position in shares of Old Republic International Co. (NYSE:ORI) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,713 shares of the insurance provider’s stock, valued at approximately $202,000.

Several other hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Old Republic International by 2.4% during the third quarter. Raymond James & Associates now owns 1,072,899 shares of the insurance provider’s stock valued at $38,002,000 after buying an additional 25,610 shares during the period. First Citizens Bank & Trust Co. lifted its stake in shares of Old Republic International by 8.0% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 7,268 shares of the insurance provider’s stock worth $257,000 after acquiring an additional 541 shares during the last quarter. Blue Trust Inc. boosted its holdings in Old Republic International by 26.8% during the 3rd quarter. Blue Trust Inc. now owns 4,390 shares of the insurance provider’s stock valued at $155,000 after acquiring an additional 927 shares during the period. Trust Point Inc. bought a new position in Old Republic International in the 3rd quarter valued at $236,000. Finally, V Square Quantitative Management LLC purchased a new stake in Old Republic International in the third quarter worth $31,000. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Trading Down 0.8 %

Shares of Old Republic International stock traded down $0.30 on Monday, hitting $36.10. 92,827 shares of the company traded hands, compared to its average volume of 1,444,389. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.33. The company has a market cap of $9.81 billion, a PE ratio of 14.16 and a beta of 0.84. The stock’s 50 day moving average price is $35.24 and its 200-day moving average price is $32.59. Old Republic International Co. has a 52 week low of $26.40 and a 52 week high of $36.50.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, July 25th. The insurance provider reported $0.76 earnings per share 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 business had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted $0.62 EPS. Equities research analysts predict that Old Republic International Co. will post 2.83 EPS for the current year.

Old Republic International Announces Dividend

The firm also recently announced an annual dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were issued a dividend of $1.06 per share. This represents a yield of 3.05%. The ex-dividend date of this dividend was Friday, September 6th. Old Republic International’s payout ratio is 41.25%.

Analyst Ratings Changes

Separately, Piper Sandler boosted their target price on shares of Old Republic International from $35.00 to $36.00 and gave the company an “overweight” rating in a research note on Friday, October 4th.

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.