Sanibel Captiva Trust Company Inc. Acquires Shares of 8,031 Old Republic International Co. (NYSE:ORI)

Sanibel Captiva Trust Company Inc. acquired a new stake in shares of Old Republic International Co. (NYSE:ORI) in the third quarter, HoldingsChannel.com reports. The fund acquired 8,031 shares of the insurance provider’s stock, valued at approximately $284,000.

A number of other institutional investors have also added to or reduced their stakes in ORI. Vanguard Group Inc. grew its holdings in Old Republic International by 6.3% during the 1st quarter. Vanguard Group Inc. now owns 28,156,630 shares of the insurance provider’s stock valued at $864,972,000 after buying an additional 1,661,147 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of 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 valued at $233,073,000 after purchasing an additional 532,251 shares in the last quarter. Lighthouse Investment Partners LLC purchased a new position in shares of Old Republic International in the second quarter valued at $10,641,000. Point72 Asset Management L.P. purchased a new position in shares of Old Republic International in the second quarter valued at $7,186,000. Finally, LSV Asset Management grew its holdings in shares of Old Republic International by 14.4% in the second quarter. LSV Asset Management now owns 1,838,307 shares of the insurance provider’s stock valued at $56,804,000 after purchasing an additional 231,600 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Old Republic International Trading Up 0.5 %

ORI stock opened at $35.42 on Friday. The firm has a fifty day moving average price of $34.97 and a 200 day moving average price of $32.34. Old Republic International Co. has a fifty-two week low of $26.40 and a fifty-two week high of $36.09. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market cap of $9.63 billion, a PE ratio of 13.78 and a beta of 0.84.

Old Republic International (NYSE:ORI) last posted 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. The firm had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.92 billion. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. During the same period last year, the firm posted $0.62 earnings per share. Sell-side analysts anticipate 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 declared an annual dividend, which was paid on Monday, September 16th. Investors of record on Friday, September 6th were given a $1.06 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a yield of 3.05%. Old Republic International’s dividend payout ratio is presently 41.25%.

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.