Intech Investment Management LLC Sells 46,129 Shares of Old Republic International Corporation $ORI

Intech Investment Management LLC cut its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 27.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 123,975 shares of the insurance provider’s stock after selling 46,129 shares during the quarter. Intech Investment Management LLC’s holdings in Old Republic International were worth $5,265,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ellsworth Advisors LLC acquired a new stake in shares of Old Republic International during the 3rd quarter worth $6,000,000. Vest Financial LLC acquired a new position in Old Republic International in the third quarter valued at about $1,517,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in Old Republic International by 261.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,350 shares of the insurance provider’s stock worth $11,779,000 after purchasing an additional 200,692 shares during the period. American National Bank & Trust grew its stake in Old Republic International by 80.0% during the third quarter. American National Bank & Trust now owns 45,000 shares of the insurance provider’s stock worth $1,911,000 after buying an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Old Republic International by 19.1% during the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock worth $152,279,000 after buying an additional 575,778 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Stock Performance

NYSE ORI opened at $42.91 on Friday. The firm’s fifty day moving average price is $42.49 and its two-hundred day moving average price is $42.16. The stock has a market cap of $10.62 billion, a PE ratio of 12.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.64. Old Republic International Corporation has a fifty-two week low of $34.43 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same period last year, the company posted $0.90 EPS. On average, equities analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a dividend of $0.315 per share. The ex-dividend date of this dividend is Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International’s payout ratio is 34.22%.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price target (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday. Finally, Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $42.50.

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.