FCG Investment Co Purchases Shares of 5,723 Old Republic International Co. (NYSE:ORI)

FCG Investment Co bought a new position in shares of Old Republic International Co. (NYSE:ORI) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,723 shares of the insurance provider’s stock, valued at approximately $203,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in Old Republic International by 6.3% during the first quarter. Vanguard Group Inc. now owns 28,156,630 shares of the insurance provider’s stock valued at $864,972,000 after purchasing an additional 1,661,147 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Old Republic International by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 7,542,836 shares of the insurance provider’s stock worth $233,073,000 after purchasing an additional 532,251 shares during the period. Hamlin Capital Management LLC lifted its holdings in Old Republic International by 8.0% in the third quarter. Hamlin Capital Management LLC now owns 5,134,096 shares of the insurance provider’s stock worth $181,850,000 after purchasing an additional 379,474 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in Old Republic International in the second quarter worth about $10,641,000. Finally, Point72 Asset Management L.P. acquired a new stake in Old Republic International in the second quarter worth about $7,186,000. Institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of NYSE ORI opened at $34.40 on Monday. Old Republic International Co. has a twelve month low of $26.81 and a twelve month high of $36.50. 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 capitalization of $9.35 billion, a price-to-earnings ratio of 13.39 and a beta of 0.84. The firm has a 50-day moving average of $35.36 and a two-hundred day moving average of $32.75.

Old Republic International (NYSE:ORI) last issued its quarterly 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 net margin of 8.59% and a return on equity of 12.57%. The company had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the company earned $0.62 EPS. As a group, analysts expect that Old Republic International Co. will post 2.83 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, September 6th. This represents a yield of 3.05%. Old Republic International’s payout ratio is presently 41.25%.

Analysts Set New Price Targets

Separately, Piper Sandler upped their price objective on shares of Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 21st.

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.