Old Republic International Corporation $ORI Stock Position Lessened by Croban

Croban decreased its holdings in Old Republic International Corporation (NYSE:ORI) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,831 shares of the insurance provider’s stock after selling 288 shares during the quarter. Croban’s holdings in Old Republic International were worth $378,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of ORI. AQR Capital Management LLC grew its stake in shares of Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after purchasing an additional 1,827,180 shares in the last quarter. Nuveen LLC bought a new position in shares of Old Republic International in the first quarter worth $31,866,000. GW&K Investment Management LLC lifted its holdings in shares of Old Republic International by 44.4% in the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock valued at $56,322,000 after buying an additional 441,799 shares during the period. Royal Bank of Canada lifted its holdings in shares of Old Republic International by 106.4% in the first quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock valued at $30,779,000 after buying an additional 404,570 shares during the period. Finally, Northern Trust Corp lifted its holdings in shares of Old Republic International by 11.8% in the first quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock valued at $139,306,000 after buying an additional 375,916 shares during the period. Institutional investors own 70.92% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on ORI shares. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the company from $43.00 to $47.00 in a report on Monday, September 22nd. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Finally, Piper Sandler upped their price objective on Old Republic International from $45.00 to $47.00 and gave the company an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Buy” and an average price target of $47.00.

Old Republic International Trading Up 0.2%

Shares of NYSE ORI opened at $43.16 on Friday. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a market cap of $10.72 billion, a price-to-earnings ratio of 14.78 and a beta of 0.76. The business has a fifty day simple moving average of $40.16 and a 200-day simple moving average of $38.39.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm’s quarterly revenue was up 10.1% on a year-over-year basis. Sell-side analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Friday, September 5th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is currently 39.73%.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares of the company’s stock, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

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.