Longboard Asset Management LP Purchases Shares of 6,985 Old Republic International Co. (NYSE:ORI)

Longboard Asset Management LP bought a new position in Old Republic International Co. (NYSE:ORI) during the 4th quarter, Holdings Channel reports. The firm bought 6,985 shares of the insurance provider’s stock, valued at approximately $253,000. Old Republic International comprises approximately 0.7% of Longboard Asset Management LP’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Hamlin Capital Management LLC lifted its holdings in Old Republic International by 8.0% during the 3rd quarter. Hamlin Capital Management LLC now owns 5,134,096 shares of the insurance provider’s stock worth $181,850,000 after buying an additional 379,474 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Old Republic International by 162.4% during the third quarter. Point72 Asset Management L.P. now owns 610,150 shares of the insurance provider’s stock worth $21,612,000 after acquiring an additional 377,605 shares during the last quarter. Edgestream Partners L.P. acquired a new position in shares of Old Republic International during the third quarter valued at $7,965,000. Orca Wealth Management LLC bought a new position in Old Republic International in the fourth quarter valued at about $5,209,000. Finally, Franklin Resources Inc. increased its position in Old Republic International by 39.6% in the third quarter. Franklin Resources Inc. now owns 454,792 shares of the insurance provider’s stock worth $16,209,000 after purchasing an additional 128,896 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of ORI stock opened at $36.26 on Tuesday. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 12-month low of $27.19 and a 12-month high of $39.27. The firm has a fifty day moving average of $36.43 and a 200-day moving average of $35.63. The firm 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 (NYSE:ORI) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ORI shares. StockNews.com lowered shares of Old Republic International from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Piper Sandler increased their price objective on shares of Old Republic International from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, October 21st.

Old Republic International 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.