Old Republic International Corporation $ORI Holdings Cut by Hamlin Capital Management LLC

Hamlin Capital Management LLC trimmed its position in Old Republic International Corporation (NYSE:ORI) by 0.5% in the 3rd quarter, Holdings Channel reports. The firm owned 5,182,417 shares of the insurance provider’s stock after selling 24,811 shares during the quarter. Old Republic International accounts for 5.0% of Hamlin Capital Management LLC’s holdings, making the stock its 5th largest position. Hamlin Capital Management LLC’s holdings in Old Republic International were worth $220,097,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Gotham Asset Management LLC grew its position in shares of Old Republic International by 24.7% during the 3rd quarter. Gotham Asset Management LLC now owns 817,747 shares of the insurance provider’s stock valued at $34,730,000 after purchasing an additional 162,120 shares in the last quarter. Focus Partners Wealth raised its position in shares of Old Republic International by 164.2% in the third quarter. Focus Partners Wealth now owns 543,039 shares of the insurance provider’s stock worth $23,063,000 after buying an additional 337,485 shares in the last quarter. Bank of America Corp DE boosted its stake in Old Republic International by 9.9% during the third quarter. Bank of America Corp DE now owns 627,744 shares of the insurance provider’s stock valued at $26,660,000 after buying an additional 56,778 shares during the period. Brass Tax Wealth Management Inc. bought a new stake in Old Republic International during the third quarter valued at $218,000. Finally, Creative Planning grew its position in Old Republic International by 37.7% during the third quarter. Creative Planning now owns 126,291 shares of the insurance provider’s stock worth $5,364,000 after buying an additional 34,573 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on ORI shares. Piper Sandler restated a “neutral” rating and issued a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Weiss Ratings upgraded Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Friday. Finally, Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Old Republic International presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the transaction, the senior vice president directly owned 27,875 shares in the company, valued at approximately $1,094,930. This represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Eric Smith purchased 1,135 shares of Old Republic International stock in a transaction on Monday, March 2nd. The shares were acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the transaction, the director directly owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. The trade was a 36.13% 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 currently owned by corporate insiders.

Old Republic International Stock Performance

Old Republic International stock opened at $40.06 on Monday. Old Republic International Corporation has a fifty-two week low of $34.43 and a fifty-two week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $9.84 billion, a P/E ratio of 11.82 and a beta of 0.73. The firm’s fifty day moving average price is $41.57 and its 200-day moving average price is $42.33.

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

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Monday, March 9th. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio (DPR) is currently 37.17%.

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.