HighTower Advisors LLC Cuts Holdings in Old Republic International Corporation $ORI

Key Points

• HighTower Advisors LLC reduced its holdings in Old Republic International Corporation by 33.4%, selling 18,296 shares and holding 36,556 shares, valued at approximately $1.43 million.
• Old Republic International's quarterly earnings report revealed an EPS of $0.83, exceeding analyst expectations, alongside a revenue of $2.21 billion.
• The company announced a dividend of $0.29 per share, with a dividend yield of 2.9%, to be paid on September 15th.

HighTower Advisors LLC trimmed its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 33.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,556 shares of the insurance provider's stock after selling 18,296 shares during the quarter. HighTower Advisors LLC's holdings in Old Republic International were worth $1,434,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ORI. Nuveen LLC acquired a new position in Old Republic International during the 1st quarter worth $31,866,000. GW&K Investment Management LLC grew its stake in Old Republic International by 44.4% during the 1st 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 in the last quarter. Northern Trust Corp grew its stake in Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares in the last quarter. Millennium Management LLC grew its stake in Old Republic International by 93.8% during the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after purchasing an additional 398,531 shares in the last quarter. Finally, Voloridge Investment Management LLC grew its stake in Old Republic International by 136.5% during the 4th 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 institutional investors and hedge funds.

Old Republic International Stock Performance

Shares of NYSE ORI traded down $0.32 during trading hours on Thursday, reaching $39.73. The stock had a trading volume of 1,345,605 shares, compared to its average volume of 1,264,537. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of 13.60 and a beta of 0.74. 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 fifty-two week low of $33.00 and a fifty-two week high of $40.21. The firm has a 50-day moving average of $37.64 and a 200-day moving average of $37.53.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The firm's quarterly revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.16 annualized dividend and a yield of 2.9%. Old Republic International's dividend payout ratio is currently 39.73%.

Analyst Upgrades and Downgrades

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

Insider Activity at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction 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 $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the company's stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company's stock, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

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.