Old Republic International Corporation $ORI Shares Bought by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC increased its stake in Old Republic International Corporation by 42.9%, owning approximately 186,012 shares valued at $7.29 million as of the latest reporting period.
• Insider sales were noted, with EVP Stephen J. Oberst selling 4,797 shares and SVP Carolyn Monroe selling 6,849 shares of Old Republic's stock, indicating a decrease in their ownership positions.
• Old Republic International declared a quarterly dividend of $0.29 per share, reflecting an annualized dividend yield of 2.9%.

Hsbc Holdings PLC lifted its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 42.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 186,012 shares of the insurance provider's stock after acquiring an additional 55,873 shares during the period. Hsbc Holdings PLC owned 0.08% of Old Republic International worth $7,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. HWG Holdings LP acquired a new position in shares of Old Republic International in the first quarter valued at about $25,000. Alpine Bank Wealth Management acquired a new position in Old Republic International in the 1st quarter worth approximately $31,000. N.E.W. Advisory Services LLC acquired a new position in Old Republic International in the 1st quarter worth approximately $35,000. Wayfinding Financial LLC acquired a new stake in shares of Old Republic International in the first quarter worth $34,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Old Republic International in the first quarter worth $36,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Price Performance

ORI traded down $0.32 during trading on Thursday, hitting $39.73. The company's stock had a trading volume of 1,345,605 shares, compared to its average volume of 1,264,537. 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 twelve month low of $33.00 and a twelve month high of $40.21. The business's fifty day simple moving average is $37.64 and its 200 day simple moving average is $37.53. The firm has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.60 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. The company's quarterly revenue was up 10.1% compared to the same quarter last year. On average, equities research analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on ORI shares. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Piper Sandler dropped their target price on Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a report on Friday, July 25th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Old Republic International has an average rating of "Buy" and a consensus target price of $41.50.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at $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. Insiders own 1.10% of the company's stock.

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.