Amalgamated Bank Reduces Holdings in Old Republic International Corporation $ORI

Amalgamated Bank trimmed its position in shares of Old Republic International Corporation (NYSE:ORI) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,751 shares of the insurance provider’s stock after selling 2,128 shares during the quarter. Amalgamated Bank’s holdings in Old Republic International were worth $4,027,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. MeadowBrook Investment Advisors LLC purchased a new stake in shares of Old Republic International during the second quarter worth approximately $163,000. Hantz Financial Services Inc. increased its position in shares of Old Republic International by 4,690.0% during the second quarter. Hantz Financial Services Inc. now owns 2,395 shares of the insurance provider’s stock worth $92,000 after purchasing an additional 2,345 shares in the last quarter. Arkadios Wealth Advisors increased its position in shares of Old Republic International by 220.1% during the second quarter. Arkadios Wealth Advisors now owns 33,288 shares of the insurance provider’s stock worth $1,280,000 after purchasing an additional 22,888 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Old Republic International by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 238,847 shares of the insurance provider’s stock worth $9,181,000 after purchasing an additional 9,594 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Old Republic International during the second quarter worth approximately $888,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Old Republic International news, Director Therace Risch purchased 1,500 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was acquired at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the acquisition, the director owned 9,625 shares in the company, valued at $384,037.50. This trade represents a 18.46% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the transaction, the executive vice president 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 SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

ORI has been the subject of a number of recent research reports. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their target price for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research note on Saturday, July 12th. Finally, Piper Sandler cut their target price on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Strong Buy” and a consensus price target of $46.50.

Old Republic International Stock Performance

NYSE ORI opened at $39.47 on Monday. The stock has a market cap of $9.81 billion, a PE ratio of 13.20 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The stock has a fifty day simple moving average of $41.04 and a 200-day simple moving average of $38.77.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, October 23rd. The insurance provider reported $1.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.38. The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. Equities analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a dividend of $0.29 per share. The ex-dividend date was Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio is currently 38.80%.

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.