Bank of Nova Scotia lowered its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 81.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,182 shares of the insurance provider's stock after selling 36,485 shares during the quarter. Bank of Nova Scotia's holdings in Old Republic International were worth $296,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Wilmington Savings Fund Society FSB purchased a new position in Old Republic International during the 3rd quarter valued at about $28,000. Fairway Wealth LLC acquired a new stake in Old Republic International during the 4th quarter worth approximately $29,000. SBI Securities Co. Ltd. purchased a new position in Old Republic International in the 4th quarter valued at approximately $34,000. Core Alternative Capital purchased a new stake in Old Republic International during the fourth quarter worth approximately $36,000. Finally, Synergy Asset Management LLC acquired a new stake in Old Republic International during the fourth quarter worth approximately $39,000. Institutional investors and hedge funds own 70.92% of the company's stock.
Old Republic International Price Performance
Old Republic International stock traded down $0.34 during mid-day trading on Monday, reaching $37.49. The company had a trading volume of 65,958 shares, compared to its average volume of 1,253,885. The stock's 50-day simple moving average is $37.39 and its 200-day simple moving average is $36.68. The company has a market capitalization of $9.27 billion, a P/E ratio of 14.26 and a beta of 0.68. Old Republic International Co. has a 1 year low of $28.65 and a 1 year high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28.
Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. On average, equities analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.
Old Republic International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a dividend of $0.29 per share. This is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.09%. The ex-dividend date was Monday, March 10th. Old Republic International's payout ratio is currently 44.11%.
Insider Activity
In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company's stock, valued at $1,699,294. This trade represents a 37.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now directly owns 33,556 shares in the company, valued at approximately $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,039 shares of company stock valued at $1,580,733. Company insiders own 1.10% of the company's stock.
Analyst Ratings Changes
Several brokerages recently commented on ORI. StockNews.com lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler increased their price objective on Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st.
Get Our Latest Stock Analysis on Old Republic International
About Old Republic International
(
Free Report)
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.
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