Twin Capital Management Inc., a well-known investment management firm, has confirmed that it has reduced its stake in shares of Old Republic International Co. by 6.9% during the fourth quarter of 2020. This announcement comes after the company shared its latest SEC filing with Security and Exchange Commissions. Twin Capital Management reported that it currently holds 85,612 shares of the insurance provider’s stock worth $2,068,000.
Old Republic International (NYSE: ORI) recently released its quarterly earnings report on January 26th, disclosing a very impressive financial performance for the quarter. The insurance provider announced an EPS of $0.80 beating analysts’ consensus estimate by $0 .31 per share.
The company’s business model primarily revolves around insurance underwriting through various key segments such as General Insurance, Title Insurance, Republic Financial Indemnity Group (RFIG) Run-Off, and Corporate and Other. While its General Insurance segment provides property and liability insurance to commercial clients.
The CEO of Old Republic International Corp., Al Zucaro spoke positively about the future prospects for his company stating that “our focus really is on underwriting profitability” which would undoubtedly drive sustainable growth in revenue and earnings per share over time.
As we look ahead into this year investors are optimistic about Old Republic International Co.’s future performance with sell-side analyst forecasts anticipating a gain in 2.2 earnings per share throughout the current fiscal year.
In conclusion, Twin Capital Management’s recent announcement highlights a possible shift in their investment strategy within the sector indicating increased competition among institutional investors within this space to secure long-term profitable stakes in companies like Old Republic International Co.’s whose positive revenue growth has been characterized historically by strong balance sheets and consistent operational excellence in executing their business strategy.
Institutional Investors Show Growing Confidence in Old Republic International Corp.
Old Republic International Corp. (ORI) has recently seen changes in positions by institutional investors, with TCI Wealth Advisors Inc. growing its stake in the insurance provider’s stock by 212.2% during Q3, owning 1,255 shares now worth $26,000 after buying 853 more shares. Moreover, Ronald Blue Trust lifted its holdings in ORI by 468.9% during Q3, owning 1,502 shares worth $34,000 after acquiring an additional 1,238 shares last year. Atlas Capital Advisors LLC and Eagle Bay Advisors LLC bought new positions in the provider’s stock worth $34K and $38K during Q2 respectively while Align Wealth Management LLC bought a new position worth $42K according to reports.
From a technical perspective, ORI opened at $25.48 on Friday with a beta of 0.80 and P/E ratio of 11.13 alongside a market capitalization of $7.55 billion. The General Insurance segment provides a range of services including property and liability insurance primarily to commercial clients while their latest quarterly dividend was paid on March 15th at an increased rate compared to last year’s payment.
According to research reports, Raymond James set ORI’s price target higher from $27 to $29 per share and gave an “outperform” rating for future growth potential whereas StockNews.com downgraded the stock from “buy” to “hold”.
Overall, the recent changes in positions by institutional investors suggest positive momentum for Old Republic International with its diverse range of insurance services as well as promising potential for future growth based on expert market analysis advice from leading research firms such as Raymond James.