Genus Capital Management Inc. cut its holdings in Old Republic International Corporation (NYSE:ORI – Free Report) by 42.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,900 shares of the insurance provider’s stock after selling 21,200 shares during the quarter. Genus Capital Management Inc.’s holdings in Old Republic International were worth $1,319,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Thrivent Financial for Lutherans increased its position in shares of Old Republic International by 2,840.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock valued at $166,763,000 after buying an additional 3,793,085 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Old Republic International by 261.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,350 shares of the insurance provider’s stock valued at $11,779,000 after buying an additional 200,692 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Old Republic International by 19.1% in the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after buying an additional 575,778 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Old Republic International by 8.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 708,917 shares of the insurance provider’s stock valued at $30,159,000 after buying an additional 57,728 shares in the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of Old Republic International in the fourth quarter valued at approximately $1,264,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.
Old Republic International Trading Down 0.0%
Shares of ORI opened at $39.35 on Tuesday. Old Republic International Corporation has a 52-week low of $35.60 and a 52-week high of $46.76. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. The firm’s fifty day moving average is $40.07 and its two-hundred day moving average is $41.98. The stock has a market cap of $9.55 billion, a PE ratio of 10.55 and a beta of 0.63.
Old Republic International Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a $0.315 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 33.78%.
Insiders Place Their Bets
In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total transaction of $516,670.80. Following the transaction, the senior vice president directly owned 32,261 shares of the company’s stock, valued at $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith bought 1,135 shares of Old Republic International stock in a transaction on Monday, March 2nd. The shares were purchased at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the purchase, the director directly owned 4,276 shares of the company’s stock, valued at $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.32% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of research firms have recently commented on ORI. Piper Sandler boosted their price objective 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. Raymond James Financial set a $44.00 price objective on Old Republic International in a research report on Monday, April 27th. Finally, Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.
View Our Latest Report on Old Republic International
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. 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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