Los Angeles Capital Management LLC Sells 56,997 Shares of Old Republic International Corporation $ORI

Key Points

• Los Angeles Capital Management cut its stake in Old Republic International by 40.8% in the fourth quarter, selling 56,997 shares and leaving it with 82,724 shares valued at about $3.78 million.
• Old Republic International reported quarterly EPS of $0.68, missing analyst expectations of $0.79, though revenue came in slightly above estimates at $2.40 billion and rose 6.7% year over year.
• The company declared a quarterly dividend of $0.315 per share, implying an annualized yield of about 3.3%, while analysts currently have a consensus rating of Moderate Buy with a $42 price target.

Los Angeles Capital Management LLC decreased its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 40.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,724 shares of the insurance provider's stock after selling 56,997 shares during the quarter. Los Angeles Capital Management LLC's holdings in Old Republic International were worth $3,776,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Old Republic International in the 4th quarter worth approximately $26,000. Torren Management LLC bought a new stake in Old Republic International in the 4th quarter worth approximately $27,000. JPL Wealth Management LLC bought a new stake in Old Republic International in the 3rd quarter worth approximately $27,000. Quest 10 Wealth Builders Inc. bought a new stake in Old Republic International in the 4th quarter worth approximately $31,000. Finally, Clearstead Trust LLC increased its stake in Old Republic International by 65.6% in the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock worth $31,000 after acquiring an additional 288 shares during the last quarter. Institutional investors own 70.92% of the company's stock.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the business's stock in a transaction on Tuesday, May 12th. The stock was 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 owned 32,261 shares in the company, valued at $1,250,436.36. The trade was a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by insiders.

Old Republic International Price Performance

ORI stock opened at $37.86 on Wednesday. Old Republic International Corporation has a 12 month low of $35.60 and a 12 month high of $46.76. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average price of $39.72 and a 200 day moving average price of $41.60. The stock has a market cap of $9.19 billion, a PE ratio of 10.15 and a beta of 0.59.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 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 analysts' expectations of $2.39 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. Old Republic International's revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, June 5th will be issued a dividend of $0.315 per share. The ex-dividend date is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a yield of 3.3%. Old Republic International's payout ratio is presently 33.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ORI shares. Weiss Ratings cut Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a report on Friday, March 27th. Piper Sandler lifted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the stock a "neutral" rating in a research note on Friday, April 24th. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday, April 27th. Finally, Zacks Research lowered shares of Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $42.00.

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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