Merit Financial Group LLC Purchases Shares of 5,728 Old Republic International Co. (NYSE:ORI)

Merit Financial Group LLC acquired a new position in Old Republic International Co. (NYSE:ORI) in the fourth quarter, Holdings Channel.com reports. The firm acquired 5,728 shares of the insurance provider’s stock, valued at approximately $207,000.

Other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC grew its position in Old Republic International by 725.3% during the second quarter. Renaissance Technologies LLC now owns 84,185 shares of the insurance provider’s stock valued at $2,601,000 after acquiring an additional 73,985 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Old Republic International during the 2nd quarter valued at $282,000. Sei Investments Co. raised its position in Old Republic International by 14.2% in the 2nd quarter. Sei Investments Co. now owns 83,761 shares of the insurance provider’s stock worth $2,588,000 after purchasing an additional 10,427 shares during the period. Dark Forest Capital Management LP lifted its stake in Old Republic International by 18.7% in the second quarter. Dark Forest Capital Management LP now owns 9,041 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 1,423 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Old Republic International by 9.2% during the second quarter. Millennium Management LLC now owns 236,072 shares of the insurance provider’s stock valued at $7,295,000 after buying an additional 19,895 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ORI. StockNews.com upgraded Old Republic International from a “buy” rating to a “strong-buy” rating in a report on Friday. Piper Sandler boosted their price objective on Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, October 21st.

Old Republic International Trading Down 0.3 %

Shares of ORI opened at $36.17 on Monday. The firm has a fifty day simple moving average of $36.54 and a two-hundred day simple moving average of $35.45. Old Republic International Co. has a twelve month low of $27.19 and a twelve month high of $39.27. The stock has a market capitalization of $9.17 billion, a P/E ratio of 12.47 and a beta of 0.88. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.31.

Old Republic International (NYSE:ORI) last posted 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 net margin of 11.48% and a return on equity of 19.11%. On average, research analysts anticipate that Old Republic International Co. will post 2.73 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Old Republic International’s dividend payout ratio (DPR) is presently 36.55%.

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.