Oak Harbor Wealth Partners LLC Sells 549 Shares of Old Republic International Co. (NYSE:ORI)

Oak Harbor Wealth Partners LLC reduced its stake in Old Republic International Co. (NYSE:ORI) by 6.7% during the 4th quarter, HoldingsChannel reports. The firm owned 7,700 shares of the insurance provider’s stock after selling 549 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in Old Republic International were worth $226,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Norges Bank bought a new position in shares of Old Republic International during the fourth quarter valued at $89,446,000. Northern Trust Corp lifted its holdings in Old Republic International by 13.1% during the 3rd quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock valued at $66,290,000 after purchasing an additional 284,491 shares during the last quarter. Invesco Ltd. boosted its position in Old Republic International by 55.2% in the third quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock valued at $60,966,000 after buying an additional 804,803 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Old Republic International by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,817,104 shares of the insurance provider’s stock worth $53,423,000 after buying an additional 32,917 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of Old Republic International by 3.3% during the third quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock worth $48,827,000 after buying an additional 58,008 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Trading Up 0.4 %

ORI stock traded up $0.12 during trading on Friday, hitting $31.42. The company had a trading volume of 280,879 shares, compared to its average volume of 1,695,548. The stock has a market cap of $8.54 billion, a price-to-earnings ratio of 12.23 and a beta of 0.81. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average price of $30.41 and a 200-day moving average price of $29.41. Old Republic International Co. has a 12 month low of $24.17 and a 12 month high of $32.26.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. As a group, analysts predict that Old Republic International Co. will post 2.73 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Tuesday, June 4th will be issued a $0.265 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 3.37%. Old Republic International’s dividend payout ratio is presently 41.25%.

Insider Buying and Selling at Old Republic International

In related news, VP Thomas Dare sold 1,292 shares of Old Republic International stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $30.95, for a total transaction of $39,987.40. Following the transaction, the vice president now owns 47,764 shares of the company’s stock, valued at approximately $1,478,295.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Old Republic International news, Director Therace Risch purchased 6,086 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were bought at an average price of $29.77 per share, with a total value of $181,180.22. Following the completion of the transaction, the director now directly owns 6,086 shares in the company, valued at approximately $181,180.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas Dare sold 1,292 shares of Old Republic International stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $30.95, for a total value of $39,987.40. Following the transaction, the vice president now owns 47,764 shares in the company, valued at approximately $1,478,295.80. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ORI. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Piper Sandler upped their price target on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st.

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.