Caisse Des Depots ET Consignations Cuts Stock Holdings in Old Republic International Corporation $ORI

Key Points

• Caisse Des Depots et Consignations reduced its stake in Old Republic International (ORI) by 68.2% in Q4, selling 51,490 shares and leaving 24,040 shares valued at about $1.097 million.
• Old Republic missed quarterly EPS—reporting $0.68 vs. a $0.79 consensus—while revenue rose 6.7% year-over-year to $2.40 billion; analysts expect about $2.95 EPS for the full year.
• Dividend raised: the company increased its quarterly payout to $0.315 (annualized $1.26), implying a ~3.2% yield with a payout ratio around 33.8%.

Caisse Des Depots ET Consignations lowered its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 68.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,040 shares of the insurance provider's stock after selling 51,490 shares during the quarter. Caisse Des Depots ET Consignations' holdings in Old Republic International were worth $1,097,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of ORI. V Square Quantitative Management LLC acquired a new position in shares of Old Republic International during the fourth quarter worth $26,000. Torren Management LLC acquired a new position in shares of Old Republic International during the fourth quarter worth $27,000. JPL Wealth Management LLC acquired a new position in shares of Old Republic International during the third quarter worth $27,000. Clearstead Trust LLC grew its stake in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock worth $31,000 after purchasing an additional 288 shares in the last quarter. Finally, Quest 10 Wealth Builders Inc. acquired a new position in shares of Old Republic International during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Stock Performance

NYSE ORI opened at $39.31 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.27. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76. The company has a market capitalization of $9.57 billion, a PE ratio of 10.54 and a beta of 0.63. The company has a fifty day moving average of $40.78 and a two-hundred day moving average of $42.13.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the prior year, the company earned $0.81 EPS. The business's revenue was up 6.7% on a year-over-year basis. As a group, analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were paid a $0.315 dividend. This is a boost from Old Republic International's previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 3.2%. The ex-dividend date was Monday, March 9th. Old Republic International's payout ratio is currently 33.78%.

Insider Buying and Selling at Old Republic International

In related news, Director John Eric Smith acquired 1,135 shares of the firm's stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the completion of the purchase, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 5,526 shares of the company's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares of the company's stock, valued at $1,094,930. This represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.32% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Old Republic International from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research note on Monday. Finally, Zacks Research downgraded shares of Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

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. 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.

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