Capital Fund Management S.A. Sells 154,717 Shares of Old Republic International Corporation $ORI

Key Points

• Capital Fund Management S.A. reduced its stake in Old Republic International Corporation by 37.7%, selling 154,717 shares and now owning a total of 255,688 shares valued at approximately $10 million.
• Old Republic International recently announced a quarterly dividend of $0.29 per share, which translates to a $1.16 annualized dividend yield of 2.9%.
• Analyst ratings show a mixed outlook for Old Republic with a consensus rating of "Buy" and an average target price of $41.50, although some analysts have recently downgraded their targets.

Capital Fund Management S.A. cut its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 37.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,688 shares of the insurance provider's stock after selling 154,717 shares during the quarter. Capital Fund Management S.A. owned 0.10% of Old Republic International worth $10,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Nuveen LLC bought a new position in Old Republic International in the 1st quarter worth about $31,866,000. GW&K Investment Management LLC lifted its holdings in shares of Old Republic International by 44.4% during the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock worth $56,322,000 after purchasing an additional 441,799 shares during the period. Northern Trust Corp lifted its holdings in Old Republic International by 14.4% in the fourth quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after acquiring an additional 400,384 shares during the period. Millennium Management LLC increased its position in shares of Old Republic International by 93.8% in the fourth quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock valued at $29,802,000 after buying an additional 398,531 shares in the last quarter. Finally, Voloridge Investment Management LLC increased its position in shares of Old Republic International by 136.5% during the fourth quarter. Voloridge Investment Management LLC now owns 490,263 shares of the insurance provider's stock worth $17,743,000 after purchasing an additional 282,963 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Piper Sandler cut their target price on Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $41.50.

Insider Activity at Old Republic International

In related news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction dated 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 owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Old Republic International Trading Up 1.1%

ORI stock traded up $0.42 during midday trading on Wednesday, hitting $40.07. The stock had a trading volume of 171,521 shares, compared to its average volume of 1,317,596. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $40.20. The firm has a market cap of $9.96 billion, a P/E ratio of 13.71 and a beta of 0.74. The business has a fifty day moving average price of $37.52 and a two-hundred day moving average price of $37.49.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. On average, sell-side analysts predict 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. Shareholders of record on Friday, September 5th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Old Republic International's dividend payout ratio (DPR) is 39.73%.

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.