D. E. Shaw & Co. Inc. trimmed its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,432 shares of the insurance provider's stock after selling 9,059 shares during the period. D. E. Shaw & Co. Inc.'s holdings in Old Republic International were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Fairway Wealth LLC bought a new stake in Old Republic International during the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new stake in Old Republic International during the 4th quarter worth approximately $34,000. Core Alternative Capital purchased a new stake in Old Republic International in the 4th quarter valued at $36,000. Synergy Asset Management LLC purchased a new position in Old Republic International during the fourth quarter worth about $39,000. Finally, Crews Bank & Trust bought a new position in shares of Old Republic International in the fourth quarter valued at approximately $40,000. 70.92% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Wall Street Zen raised shares of Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Raymond James set a $42.00 target price on shares of Old Republic International and gave the company an "outperform" rating in a research note on Monday, April 28th. Finally, Piper Sandler set a $42.00 price objective on Old Republic International in a report on Friday, April 25th.
Check Out Our Latest Stock Analysis on ORI
Insider Buying and Selling at Old Republic International
In related news, VP Thomas Dare sold 27,457 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the transaction, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the sale, the chief executive officer now directly owns 138,222 shares in the company, valued at $5,335,369.20. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,354 shares of company stock worth $1,602,871 over the last three months. Company insiders own 1.10% of the company's stock.
Old Republic International Stock Performance
Shares of NYSE ORI traded up $0.21 during mid-day trading on Friday, hitting $37.81. The company had a trading volume of 2,078,641 shares, compared to its average volume of 1,207,608. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 14.38 and a beta of 0.74. The stock's 50-day moving average price is $37.75 and its 200-day moving average price is $37.11.
Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The firm had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The business's revenue for the quarter was up 11.4% on a year-over-year basis. On average, sell-side analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current year.
Old Republic International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.07%. The ex-dividend date is Friday, June 6th. Old Republic International's dividend payout ratio is presently 47.15%.
About Old Republic International
(
Free Report)
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.
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