Old Republic International Co. (NYSE:ORI) recently caught the attention of Russell Investments Group Ltd., as they increased their stake in the holding company by 17.4% during the fourth quarter. Russell Investments now holds an impressive 91,383 shares, worth $2,208,000 at the end of Q4.
Old Republic International Corp. provides insurance underwriting services through several segments, including General Insurance, Title Insurance, RFIG Run-Off and Corporate and Other. The General Insurance division principally serves commercial clients with property and liability insurance coverages.
In addition to its strong financials, Old Republic International also announced that it would be issuing a quarterly dividend which is set to be paid out on June 15th. Shareholders will receive a dividend of $0.244 per share if they were on record as of June 5th, providing an annualized yield of 3.84%.
The announcement was well received by investors who appreciate the strong payout ratio of Old Republic International set at 49.75%.
It is evident that Old Republic International continues to generate high levels of investor confidence as reflected in the recent stake increase by Russell Investments Group Ltd., indicating robust performance in an industry that requires both long-term sustainability and adaptability to weather any market changes.
Investors are keeping a watchful eye on Old Republic International Corp. given its reputation for consistently delivering solid results since its establishment almost five decades ago in Illinois. From commercial insurance products for properties and businesses to niche offerings like title insurance coverages—Old Republic continues to set industry standards on par with leading competitors.
Over time investors have grown comfortable with the business model whilst continually observing improvements throughout operations signalling potential gains over time yielding favourable returns for shareholders who choose to hold onto this stately stock icon over the long haul.
The consistent reporting measures coupled with significant dividend payouts underscore durability—the hallmark of any reputable holding corporation—a standard that Old Republic International continues to set for its peers in the industry.
As the market braces itself for further volatility and potential changes moving forward, Old Republic International Co.’s reputation as a stalwart in the insurance industry bodes increasingly well both for stakeholders and investors alike.
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Hedge Funds and Institutional Investors Flock to Old Republic International
Old Republic International, a well-established insurance provider, has been increasing in popularity amongst hedge funds and institutional investors. In the third quarter of last year, TCI Wealth Advisors Inc. raised its stake in the company by a staggering 212.2%, with other firms such as Atlas Capital Advisors LLC, Align Wealth Management LLC, Hollencrest Capital Management and Zions Bancorporation N.A. also investing heavily in the stock.
As a result of this surge in investment activity, hedge funds and institutional investors now own an impressive 70.87% of Old Republic International’s stock. With a market cap of $7.45 billion, ORI stock opened at $25.44 on May 22nd 2023 – reflecting the strong demand for the company’s shares.
Despite the growth in investment activity surrounding Old Republic International, analysts have expressed mixed opinions about its future prospects. Piper Sandler started coverage on the company just six days before this article was written – issuing a “neutral” rating and setting a price objective of $27 per share.
StockNews.com recently started coverage on Old Republic International too – taking a more positive stance by giving it a buy rating. Raymond James echoed this sentiment by raising their price target on shares from $27 to $29 per share – along with an outperform rating.
In terms of specifics, Old Republic’s one year low is $20.27 and high is $26.72; while its fifty day moving average sits at $24.93 and its 200 day moving average stays steady at around $24.81 per share.
The company holds a PE ratio of 12.91 and beta of 0.80 – indicating that it is relatively low risk when compared with other financial investments available on the market today.
While there remains significant variation between individual analysts’ predictions for Old Republic International’s future performance – few can argue with the fact that this once overlooked firm has become a focal point for institutions looking to diversify their portfolios with reliable, steady growth in a difficult economic climate.
