Old Republic International Corporation $ORI Shares Sold by Genus Capital Management Inc.

Genus Capital Management Inc. reduced its position in Old Republic International Corporation (NYSE:ORI) by 48.5% in the 2nd quarter, Holdings Channel reports. The firm owned 36,500 shares of the insurance provider’s stock after selling 34,400 shares during the period. Genus Capital Management Inc.’s holdings in Old Republic International were worth $1,403,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. 1 North Wealth Services LLC acquired a new position in Old Republic International during the first quarter worth approximately $29,000. Quarry LP increased its position in Old Republic International by 6,645.5% during the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after buying an additional 731 shares during the period. Ameritas Advisory Services LLC acquired a new position in Old Republic International during the second quarter worth approximately $34,000. N.E.W. Advisory Services LLC acquired a new position in Old Republic International during the first quarter worth approximately $35,000. Finally, Meeder Asset Management Inc. acquired a new position in Old Republic International during the first quarter worth approximately $36,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Trading Up 1.6%

NYSE:ORI opened at $40.70 on Thursday. The firm has a market cap of $10.07 billion, a P/E ratio of 13.61 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. The stock’s 50 day simple moving average is $41.06 and its 200-day simple moving average is $38.81. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $44.00.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.28 billion. Equities analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Therace Risch acquired 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were acquired at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the acquisition, the director directly owned 9,625 shares of the company’s stock, valued at $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate 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.