LSV Asset Management decreased its position in shares of Old Republic International Corporation (NYSE:ORI – Free Report) by 2.6% in the fourth quarter, HoldingsChannel reports. The firm owned 2,722,762 shares of the insurance provider’s stock after selling 72,390 shares during the quarter. LSV Asset Management’s holdings in Old Republic International were worth $124,267,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Old Republic International during the fourth quarter worth about $26,000. Torren Management LLC acquired a new stake in shares of Old Republic International during the fourth quarter worth about $27,000. JPL Wealth Management LLC acquired a new stake in shares of Old Republic International during the third quarter worth about $27,000. Clearstead Trust LLC lifted its holdings 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 worth $31,000 after purchasing an additional 288 shares during the period. Finally, Quest 10 Wealth Builders Inc. acquired a new stake in shares of Old Republic International during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 70.92% of the company’s stock.
Old Republic International Stock Down 0.8%
Old Republic International stock opened at $39.35 on Friday. The stock has a market capitalization of $9.55 billion, a PE ratio of 10.55 and a beta of 0.63. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The business has a 50 day simple moving average of $40.08 and a 200-day simple moving average of $41.97. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23.
Old Republic International Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a $0.315 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. Old Republic International’s payout ratio is 33.78%.
Insider Buying and Selling
In other Old Republic International news, Director John Eric Smith acquired 1,135 shares of the business’s stock in a transaction dated Monday, March 2nd. The stock was acquired at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares of the company’s stock, valued at $184,295.60. This represents a 36.13% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carolyn Monroe sold 13,330 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Piper Sandler lifted their price target on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings cut Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. Finally, Raymond James Financial set a $44.00 price target on Old Republic International in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $42.00.
About Old Republic International
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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