Hamlin Capital Management LLC reduced its holdings in Old Republic International Corporation (NYSE:ORI – Free Report) by 1.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,599,066 shares of the insurance provider’s stock after selling 65,979 shares during the period. Old Republic International makes up 4.2% of Hamlin Capital Management LLC’s portfolio, making the stock its 10th largest holding. Hamlin Capital Management LLC owned approximately 1.90% of Old Republic International worth $171,591,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new stake in Old Republic International during the second quarter worth approximately $491,660,000. First Trust Advisors LP boosted its holdings in shares of Old Republic International by 18.5% in the 1st quarter. First Trust Advisors LP now owns 2,823,545 shares of the insurance provider’s stock worth $112,659,000 after purchasing an additional 441,094 shares during the period. Quantinno Capital Management LP increased its position in shares of Old Republic International by 31.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,174,530 shares of the insurance provider’s stock valued at $46,864,000 after purchasing an additional 280,858 shares during the last quarter. Gotham Asset Management LLC raised its holdings in Old Republic International by 32.0% during the 4th quarter. Gotham Asset Management LLC now owns 1,079,217 shares of the insurance provider’s stock valued at $49,255,000 after buying an additional 261,470 shares during the period. Finally, Evolve Private Wealth LLC purchased a new stake in Old Republic International during the 4th quarter valued at $4,968,000. Institutional investors own 70.92% of the company’s stock.
Old Republic International Trading Up 2.1%
ORI traded up $0.81 during trading hours on Thursday, reaching $38.52. 352,710 shares of the company’s stock traded hands, compared to its average volume of 1,598,913. The firm has a 50-day moving average price of $41.01 and a 200 day moving average price of $40.45. The firm has a market capitalization of $9.30 billion, a PE ratio of 9.10 and a beta of 0.56. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a 52-week low of $36.65 and a 52-week high of $46.76.
Old Republic International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were issued a $0.3150 dividend. The ex-dividend date was Friday, September 4th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.3%. Old Republic International’s payout ratio is presently 29.79%.
Insider Activity at Old Republic International
In related news, SVP Jeffrey Lange sold 14,075 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total value of $615,922.00. Following the transaction, the senior vice president owned 12,244 shares of the company’s stock, valued at $535,797.44. This represents a 53.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Oberst sold 13,125 shares of Old Republic International stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total value of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares of the company’s stock, valued at approximately $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 33,374 shares of company stock worth $1,452,714. Company insiders own 1.32% of the company’s stock.
Wall Street Analysts Forecast Growth
ORI has been the subject of several recent analyst reports. Piper Sandler dropped their price objective on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Weiss Ratings lowered shares of Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a report on Friday, September 18th. Finally, Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Old Republic International presently has an average rating of “Hold” and a consensus price target of $41.50.
Check Out Our Latest Analysis on Old Republic International
Old Republic International Profile
Old Republic International Corporation (NYSE: ORI) is an insurance holding company headquartered in Chicago, Illinois. Founded in 1887, the company operates through subsidiaries that provide insurance products and related services to businesses, individuals, and financial institutions.
Old Republic’s general insurance operations offer commercial property and casualty coverage, including workers’ compensation, commercial automobile, general liability, property, transportation, construction, and specialized industry insurance.
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