Corebridge Financial Inc. Sells 6,327 Shares of Old Republic International Corporation $ORI

Key Points

• Corebridge Financial Inc. reduced its stake in Old Republic International Corporation by 2.4%, selling 6,327 shares in the first quarter, holding a total of 257,649 shares worth $10.1 million.
• Old Republic International recently reported earnings per share (EPS) of $0.83 for the quarter, beating estimates of $0.79, and its revenue increased by 10.1% year-over-year.
• The company declared a quarterly dividend of $0.29, scheduled to be paid on September 15th, with an annualized yield of 2.9%.

Corebridge Financial Inc. lessened its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 2.4% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 257,649 shares of the insurance provider's stock after selling 6,327 shares during the quarter. Corebridge Financial Inc. owned about 0.10% of Old Republic International worth $10,105,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ORI. HWG Holdings LP acquired a new stake in shares of Old Republic International during the 1st quarter worth about $25,000. Alpine Bank Wealth Management acquired a new stake in Old Republic International in the 1st quarter worth about $31,000. Wayfinding Financial LLC acquired a new stake in Old Republic International in the 1st quarter worth about $34,000. N.E.W. Advisory Services LLC acquired a new stake in Old Republic International in the 1st quarter worth about $35,000. Finally, Meeder Asset Management Inc. acquired a new stake in Old Republic International in the 1st quarter worth about $36,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Insider Buying and Selling

In other Old Republic International news, 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 transaction of $250,125.48. Following the sale, the senior vice president directly owned 35,755 shares of the company's stock, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the business's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Price Performance

ORI stock traded up $0.23 during trading on Monday, reaching $39.97. 963,420 shares of the company were exchanged, compared to its average volume of 1,235,206. The company has a 50-day moving average of $37.69 and a two-hundred day moving average of $37.58. The company has a market capitalization of $9.93 billion, a price-to-earnings ratio of 13.69 and a beta of 0.78. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $40.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $2.21 billion during 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%. Old Republic International's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts have weighed in on ORI shares. Piper Sandler dropped their price objective on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a research note on Friday, July 25th. Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Old Republic International currently has a consensus rating of "Buy" and an average price target of $41.50.

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.