Hennion & Walsh Asset Management Inc. Reduces Stock Position in Old Republic International Co. (NYSE:ORI)

Hennion & Walsh Asset Management Inc. reduced its stake in Old Republic International Co. (NYSE:ORI - Free Report) by 37.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,852 shares of the insurance provider's stock after selling 30,604 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Old Republic International were worth $1,994,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new stake in shares of Old Republic International in the 4th quarter worth approximately $362,000. A&I Financial Services LLC bought a new position in shares of Old Republic International in the fourth quarter worth about $497,000. Cornerstone Investment Partners LLC bought a new position in Old Republic International during the fourth quarter valued at approximately $283,000. Proficio Capital Partners LLC purchased a new stake in Old Republic International during the fourth quarter valued at approximately $3,573,000. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Old Republic International in the fourth quarter worth approximately $34,000. Institutional investors own 70.92% of the company's stock.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now owns 35,755 shares in the company, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

Shares of ORI stock traded up $0.09 during mid-day trading on Friday, hitting $37.48. 878,169 shares of the stock were exchanged, compared to its average volume of 1,206,022. Old Republic International Co. has a 12-month low of $29.51 and a 12-month high of $39.84. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 14.25 and a beta of 0.74. The stock's fifty day simple moving average is $37.60 and its two-hundred day simple moving average is $37.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62.

Old Republic International (NYSE:ORI - Get Free Report) last posted 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 net margin of 10.36% and a return on equity of 20.32%. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International's revenue was up 11.4% on a year-over-year basis. On average, analysts forecast that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be issued a $0.29 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.10%. Old Republic International's dividend payout ratio is currently 47.15%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ORI shares. Piper Sandler set a $42.00 target price on Old Republic International in a research report on Friday, April 25th. Wall Street Zen upgraded Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Raymond James set a $42.00 target price on Old Republic International and gave the stock an "outperform" rating in a report on Monday, April 28th.

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.