Longboard Asset Management LP Buys New Shares in Old Republic International Co. (NYSE:ORI)

Longboard Asset Management LP bought a new position in Old Republic International Co. (NYSE:ORI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,985 shares of the insurance provider’s stock, valued at approximately $253,000. Old Republic International comprises about 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Dupree Financial Group LLC raised its holdings in Old Republic International by 0.8% during the 4th quarter. Dupree Financial Group LLC now owns 208,384 shares of the insurance provider’s stock worth $7,541,000 after buying an additional 1,679 shares during the period. Golden State Equity Partners increased its position in shares of Old Republic International by 20.3% in the fourth quarter. Golden State Equity Partners now owns 18,271 shares of the insurance provider’s stock worth $661,000 after acquiring an additional 3,086 shares in the last quarter. Berry Wealth Group LP raised its holdings in shares of Old Republic International by 5.2% during the fourth quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider’s stock valued at $226,000 after acquiring an additional 310 shares during the period. Everett Harris & Co. CA purchased a new stake in shares of Old Republic International in the 4th quarter valued at approximately $243,000. Finally, Saxony Capital Management LLC purchased a new position in Old Republic International during the 4th quarter worth approximately $205,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ORI. Piper Sandler upped their target price on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 21st. StockNews.com downgraded shares of Old Republic International from a “strong-buy” rating to a “buy” rating in a research report on Saturday.

Old Republic International Stock Down 0.9 %

ORI opened at $36.26 on Tuesday. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 13.79 and a beta of 0.88. Old Republic International Co. has a 1-year low of $27.19 and a 1-year high of $39.27. The business has a 50 day moving average of $36.43 and a 200-day moving average of $35.63. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. As a group, sell-side analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a $2.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Old Republic International’s dividend payout ratio is currently 40.30%.

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.