Mutual of America Capital Management LLC Sells 6,977 Shares of Old Republic International Corporation $ORI

Mutual of America Capital Management LLC reduced its position in shares of Old Republic International Corporation (NYSE:ORI) by 5.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,083 shares of the insurance provider’s stock after selling 6,977 shares during the period. Mutual of America Capital Management LLC’s holdings in Old Republic International were worth $4,347,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ORI. AQR Capital Management LLC lifted its holdings in Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock valued at $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Nuveen LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $31,866,000. GW&K Investment Management LLC raised its stake in shares of Old Republic International by 44.4% in the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock valued at $56,322,000 after acquiring an additional 441,799 shares during the last quarter. Royal Bank of Canada raised its position in Old Republic International by 106.4% in the 1st quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock valued at $30,779,000 after purchasing an additional 404,570 shares during the last quarter. Finally, Northern Trust Corp raised its position in Old Republic International by 11.8% in the 1st quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock valued at $139,306,000 after purchasing an additional 375,916 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Trading Down 0.0%

NYSE ORI opened at $41.96 on Thursday. The stock has a 50-day simple moving average of $40.94 and a 200 day simple moving average of $38.58. The company has a market capitalization of $10.43 billion, a PE ratio of 14.37 and a beta of 0.76. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. Research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Friday, September 5th. Old Republic International’s dividend payout ratio is 39.73%.

Analyst Ratings Changes

ORI has been the subject of several research analyst reports. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Piper Sandler lifted their price target on Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Monday, October 6th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Finally, Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Strong Buy” and a consensus target price of $47.00.

Insiders Place Their Bets

In other news, EVP Stephen J. Oberst sold 4,797 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president directly owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Therace Risch purchased 1,500 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was bought at an average price of $39.90 per share, with a total value of $59,850.00. Following the completion of the purchase, the director owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.10% of the company’s stock.

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.