Old Republic International Corporation (NYSE:ORI) Shares Sold by Burney Co.

Burney Co. trimmed its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 8.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,625 shares of the insurance provider's stock after selling 8,805 shares during the quarter. Burney Co.'s holdings in Old Republic International were worth $3,515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. HWG Holdings LP bought a new position in shares of Old Republic International in the first quarter valued at approximately $25,000. Alpine Bank Wealth Management purchased a new stake in Old Republic International during the first quarter valued at about $31,000. Wayfinding Financial LLC bought a new position in shares of Old Republic International during the first quarter valued at about $34,000. Dunhill Financial LLC bought a new position in shares of Old Republic International during the first quarter valued at about $37,000. Finally, Transce3nd LLC bought a new position in shares of Old Republic International during the fourth quarter valued at about $41,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

ORI has been the topic of several research reports. Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Raymond James Financial set a $42.00 target price on shares of Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Piper Sandler lowered their target price on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Friday.

Old Republic International Stock Performance

Shares of ORI stock traded up $0.10 during mid-day trading on Friday, reaching $35.84. 1,994,775 shares of the company's stock traded hands, compared to its average volume of 1,325,151. Old Republic International Corporation has a 12 month low of $32.93 and a 12 month high of $39.84. The firm has a 50 day moving average price of $37.42 and a two-hundred day moving average price of $37.17. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $8.86 billion, a PE ratio of 14.57 and a beta of 0.73.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. The business's revenue for the quarter was up 10.1% compared to the same quarter last year. On average, research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.24%. The ex-dividend date was Friday, June 6th. Old Republic International's payout ratio is currently 47.15%.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.10% of the company's stock.

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.