Vanguard Group Inc. Cuts Stock Holdings in Old Republic International Corporation $ORI

Vanguard Group Inc. trimmed its holdings in shares of Old Republic International Corporation (NYSE:ORI – Free Report) by 5.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,206,216 shares of the insurance provider’s stock after selling 1,264,582 shares during the period. Vanguard Group Inc. owned about 9.78% of Old Republic International worth $1,104,772,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC purchased a new stake in Old Republic International during the fourth quarter valued at about $26,000. JPL Wealth Management LLC bought a new position in shares of Old Republic International during the third quarter valued at about $27,000. Clearstead Trust LLC raised its stake in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after acquiring an additional 288 shares during the last quarter. Core Alternative Capital bought a new position in shares of Old Republic International during the third quarter valued at about $42,000. Finally, Wilmington Savings Fund Society FSB raised its stake in shares of Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after acquiring an additional 222 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Finally, Piper Sandler upped their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Old Republic International currently has an average rating of “Moderate Buy” and an average target price of $42.00.

Check Out Our Latest Research Report on ORI

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the sale, the senior vice president owned 27,875 shares in the company, valued at approximately $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Eric Smith acquired 1,135 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This trade represents a 36.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 1.32% of the stock is owned by corporate insiders.

Old Republic International Stock Performance

Shares of NYSE:ORI opened at $39.31 on Friday. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 10.54 and a beta of 0.63. The company has a 50-day moving average price of $40.78 and a 200-day moving average price of $42.13. The company has a current ratio of 0.60, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27.

Old Republic International (NYSE:ORI – Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same period in the previous year, the company earned $0.81 earnings per share. Old Republic International’s quarterly revenue was up 6.7% on a year-over-year basis. As a group, equities analysts anticipate that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Investors of record on Monday, March 9th were paid a $0.315 dividend. The ex-dividend date of this dividend was Monday, March 9th. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. Old Republic International’s payout ratio is currently 33.78%.

About Old Republic International

(Free Report)

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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