Baird Financial Group Inc. Sells 6,297 Shares of Old Republic International Corporation $ORI

Key Points

• Baird Financial Group Inc. decreased its stake in Old Republic International Corporation by 1.5%, owning 425,392 shares valued at approximately $16.68 million after selling 6,297 shares in the first quarter.
• Old Republic International reported a net margin of 10.31% and earnings per share of $0.83 for the last quarter, surpassing expectations and indicating a revenue increase of 10.1% year-over-year.
• The company declared a quarterly dividend of $0.29 per share, representing a 2.9% dividend yield with a payout ratio of 39.73%.

Baird Financial Group Inc. lessened its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 1.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 425,392 shares of the insurance provider's stock after selling 6,297 shares during the period. Baird Financial Group Inc. owned 0.17% of Old Republic International worth $16,684,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Vident Advisory LLC raised its position in Old Republic International by 26.9% in the 1st quarter. Vident Advisory LLC now owns 10,170 shares of the insurance provider's stock worth $399,000 after purchasing an additional 2,153 shares during the last quarter. Evergreen Capital Management LLC raised its position in shares of Old Republic International by 5.0% during the 1st quarter. Evergreen Capital Management LLC now owns 25,811 shares of the insurance provider's stock valued at $1,012,000 after acquiring an additional 1,238 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Old Republic International during the 1st quarter valued at $5,877,000. Ieq Capital LLC raised its position in shares of Old Republic International by 270.5% during the 1st quarter. Ieq Capital LLC now owns 121,911 shares of the insurance provider's stock valued at $4,781,000 after acquiring an additional 89,006 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Old Republic International during the 1st quarter valued at $5,918,000. Institutional investors own 70.92% of the company's stock.

Wall Street Analyst Weigh In

ORI has been the subject of several recent research reports. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler upped their target price on shares of Old Republic International from $41.00 to $45.00 and gave the company an "overweight" rating in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Old Republic International currently has an average rating of "Buy" and an average price target of $43.50.

Old Republic International Trading Down 1.7%

Shares of ORI stock traded down $0.68 on Friday, hitting $40.41. The stock had a trading volume of 1,173,846 shares, compared to its average volume of 1,152,149. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $41.15. The firm has a market cap of $10.04 billion, a P/E ratio of 13.84 and a beta of 0.78. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a fifty day moving average price of $37.94 and a two-hundred day moving average price of $37.70.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. The company's revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.9%. Old Republic International's dividend payout ratio is presently 39.73%.

Insider Buying and Selling

In related news, EVP Stephen J. Oberst sold 4,797 shares of the company's stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the transaction, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Old Republic International 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.