ProShare Advisors LLC Sells 44,713 Shares of Old Republic International Co. (NYSE:ORI)

ProShare Advisors LLC cut its position in shares of Old Republic International Co. (NYSE:ORI) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 964,150 shares of the insurance provider’s stock after selling 44,713 shares during the period. ProShare Advisors LLC’s holdings in Old Republic International were worth $34,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp increased its position in shares of Old Republic International by 14.4% during the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider’s stock valued at $114,940,000 after purchasing an additional 400,384 shares during the period. Norges Bank bought a new stake in Old Republic International in the fourth quarter valued at $105,581,000. Invesco Ltd. grew its position in Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock valued at $85,044,000 after acquiring an additional 490,788 shares during the period. AQR Capital Management LLC grew its position in Old Republic International by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider’s stock valued at $68,219,000 after acquiring an additional 49,160 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Old Republic International in the fourth quarter valued at $67,054,000. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Raymond James set a $42.00 price target on Old Republic International and gave the company an “outperform” rating in a research report on Monday, April 28th. Finally, Piper Sandler set a $42.00 price target on Old Republic International in a research report on Friday, April 25th.

Old Republic International Price Performance

Old Republic International stock opened at $37.93 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The firm has a market cap of $9.37 billion, a P/E ratio of 14.42 and a beta of 0.74. The business’s fifty day moving average is $37.66 and its two-hundred day moving average is $36.96. Old Republic International Co. has a 52 week low of $29.51 and a 52 week high of $39.84.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio is currently 47.15%.

Insider Activity at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Craig R. Smiddy sold 5,296 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares of the company’s stock, valued at $5,335,369.20. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,354 shares of company stock worth $1,602,871. 1.10% of the stock is owned by insiders.

Old Republic International 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.