Victory Capital Management Inc. Reduces Position in Old Republic International Corporation $ORI

Victory Capital Management Inc. cut its stake in shares of Old Republic International Corporation (NYSE:ORI) by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,010,837 shares of the insurance provider’s stock after selling 491,991 shares during the quarter. Victory Capital Management Inc.’s holdings in Old Republic International were worth $365,615,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ORI. Bank of New York Mellon Corp grew its holdings in shares of Old Republic International by 230.6% during the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after buying an additional 8,266,829 shares during the last quarter. Norges Bank purchased a new stake in shares of Old Republic International during the fourth quarter valued at $134,633,000. AQR Capital Management LLC grew its holdings in shares of Old Republic International by 55.7% during the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after buying an additional 2,066,965 shares during the last quarter. Captrust Financial Advisors grew its holdings in shares of Old Republic International by 98.0% during the third quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after buying an additional 1,582,895 shares during the last quarter. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of Old Republic International during the second quarter valued at $27,289,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ORI has been the topic of several recent research reports. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. Piper Sandler upped their price target on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Raymond James Financial set a $44.00 price target on shares of Old Republic International in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Trading Up 0.8%

Shares of Old Republic International stock opened at $38.53 on Friday. The firm has a 50-day simple moving average of $39.64 and a two-hundred day simple moving average of $41.48. The company has a market cap of $9.36 billion, a P/E ratio of 10.33 and a beta of 0.59. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. As a group, equities analysts predict that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be given a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 3.3%. The ex-dividend date is Friday, June 5th. Old Republic International’s dividend payout ratio is 33.78%.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company’s 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 completion of the transaction, the senior vice president owned 32,261 shares in the company, valued at $1,250,436.36. This represents a 29.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by company insiders.

Old Republic International Company 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.