Voya Investment Management LLC Decreases Stake in Old Republic International Corporation $ORI

Voya Investment Management LLC lessened its position in shares of Old Republic International Corporation (NYSE:ORI) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,957 shares of the insurance provider’s stock after selling 141,657 shares during the quarter. Voya Investment Management LLC owned about 0.11% of Old Republic International worth $11,932,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ORI. 1 North Wealth Services LLC purchased a new stake in Old Republic International during the first quarter valued at $29,000. Quarry LP increased its holdings in shares of Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after buying an additional 731 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Old Republic International in the 2nd quarter worth about $34,000. Headlands Technologies LLC purchased a new stake in shares of Old Republic International during the 2nd quarter valued at about $46,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock valued at $47,000 after acquiring an additional 274 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the sale, the senior vice president owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. The trade was a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Therace Risch acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was purchased at an average cost of $39.14 per share, for a total transaction of $39,140.00. Following the purchase, the director owned 10,625 shares of the company’s stock, valued at $415,862.50. This represents a 10.39% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.10% of the stock is owned by insiders.

Old Republic International Trading Up 1.4%

ORI opened at $46.15 on Tuesday. Old Republic International Corporation has a one year low of $33.00 and a one year high of $46.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.26 and a current ratio of 0.26. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 15.44 and a beta of 0.77. The stock’s 50 day moving average price is $43.17 and its 200-day moving average price is $40.36.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. On average, equities analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Wednesday, January 14th. Investors of record on Friday, January 2nd will be issued a dividend of $2.50 per share. The ex-dividend date is Friday, January 2nd. Old Republic International’s dividend payout ratio (DPR) is presently 38.80%.

Analyst Ratings Changes

ORI has been the topic of several analyst reports. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Weiss Ratings reissued a “buy (a)” rating on shares of Old Republic International in a research report on Thursday. Finally, Piper Sandler increased their price target on Old Republic International from $46.00 to $51.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Strong Buy” and a consensus target price of $49.00.

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. 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.