Cresset Asset Management LLC Sells 24,620 Shares of Old Republic International Co. (NYSE:ORI)

Cresset Asset Management LLC reduced its stake in Old Republic International Co. (NYSE:ORI) by 38.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,884 shares of the insurance provider’s stock after selling 24,620 shares during the period. Cresset Asset Management LLC’s holdings in Old Republic International were worth $1,407,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its holdings in Old Republic International by 4.1% during the fourth quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock worth $279,000 after buying an additional 302 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Old Republic International by 37.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 71,716 shares of the insurance provider’s stock valued at $2,595,000 after acquiring an additional 19,400 shares during the period. Orca Wealth Management LLC acquired a new position in Old Republic International during the fourth quarter valued at approximately $5,209,000. Plato Investment Management Ltd bought a new stake in Old Republic International in the fourth quarter valued at approximately $362,000. Finally, A&I Financial Services LLC acquired a new stake in Old Republic International in the fourth quarter worth $497,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was 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 approximately $5,335,369.20. This represents a 3.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. The trade was a 37.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,354 shares of company stock worth $1,602,871 over the last ninety days. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ORI. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Piper Sandler set a $42.00 price target on Old Republic International in a report on Friday, April 25th. Finally, Raymond James set a $42.00 price objective on Old Republic International and gave the company an “outperform” rating in a report on Monday, April 28th.

Old Republic International Trading Down 0.6 %

Shares of NYSE:ORI opened at $37.89 on Friday. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 14.41 and a beta of 0.74. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84. The company’s fifty day simple moving average is $37.63 and its 200 day simple moving average is $36.90. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, beating 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%. Old Republic International’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, research analysts forecast that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is currently 47.15%.

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.