Heartland Advisors Inc. Sells 33,208 Shares of Old Republic International Corporation $ORI

Key Points

• Heartland Advisors Inc. reduced its stake in Old Republic International by 16.2% in the first quarter, selling 33,208 shares and leaving it with 172,092 shares valued at about $6.87 million.
• Old Republic International’s stock has drawn mixed attention from analysts, with a consensus rating of Moderate Buy and an average price target of $42.00.
• The insurer recently reported Q1 earnings of $0.68 per share, missing estimates, while revenue came in slightly above expectations at $2.40 billion; it also paid a quarterly dividend of $0.315 per share, yielding about 3.0%.

Heartland Advisors Inc. lessened its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 16.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 172,092 shares of the insurance provider's stock after selling 33,208 shares during the quarter. Heartland Advisors Inc. owned 0.07% of Old Republic International worth $6,866,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORI. V Square Quantitative Management LLC bought a new stake in shares of Old Republic International in the fourth quarter worth about $26,000. Torren Management LLC bought a new position in shares of Old Republic International during the 4th quarter valued at about $27,000. Commonwealth Retirement Investments LLC bought a new position in shares of Old Republic International during the 4th quarter valued at about $27,000. JPL Wealth Management LLC acquired a new position in shares of Old Republic International in the 3rd quarter valued at approximately $27,000. Finally, Quest 10 Wealth Builders Inc. acquired a new position in shares of Old Republic International in the 4th quarter valued at approximately $31,000. 70.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total transaction of $516,670.80. Following the completion of the transaction, the senior vice president directly owned 32,261 shares of the company's stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ORI. Weiss Ratings reissued a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research note on Monday, April 27th. Piper Sandler upped their price target on shares of Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a report on Friday, April 24th. Finally, Zacks Research raised shares of Old Republic International from a "strong sell" rating to a "hold" rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $42.00.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $42.19 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market cap of $10.24 billion, a price-to-earnings ratio of 11.31 and a beta of 0.58. The stock's 50-day moving average is $39.59 and its 200-day moving average is $40.67. Old Republic International Corporation has a one year low of $35.60 and a one year high of $46.76.

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

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Friday, June 5th. Old Republic International's dividend payout ratio (DPR) is currently 33.78%.

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. 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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