Lynx Investment Advisory Sells 9,789 Shares of Old Republic International Corporation $ORI

Key Points

• Lynx Investment Advisory reduced its stake in Old Republic International Corporation (ORI) by 39.1%, selling 9,789 shares to hold a total of 15,267 shares valued at $599,000.
• AQR Capital Management LLC significantly increased its stake in ORI by 96.9%, acquiring an additional 1,827,180 shares during the same period, pushing its total ownership to 3.7 million shares worth approximately $145 million.
• The quarterly earnings report for Old Republic International revealed a profit of $0.83 earnings per share, surpassing expectations, with a revenue increase of 10.1% year-over-year.

Lynx Investment Advisory decreased its position in Old Republic International Corporation (NYSE:ORI - Free Report) by 39.1% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 15,267 shares of the insurance provider's stock after selling 9,789 shares during the period. Lynx Investment Advisory's holdings in Old Republic International were worth $599,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ORI. AQR Capital Management LLC increased its stake in shares of Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider's stock worth $145,481,000 after buying an additional 1,827,180 shares during the period. Nuveen LLC purchased a new position in shares of Old Republic International in the first quarter worth $31,866,000. GW&K Investment Management LLC increased its stake in shares of Old Republic International by 44.4% in the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider's stock worth $56,322,000 after buying an additional 441,799 shares during the period. Royal Bank of Canada increased its stake in shares of Old Republic International by 106.4% in the first quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider's stock worth $30,779,000 after buying an additional 404,570 shares during the period. Finally, Millennium Management LLC increased its stake in shares of Old Republic International by 93.8% in the fourth quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after buying an additional 398,531 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ORI. Piper Sandler lifted their target price on shares of Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $43.50.

Old Republic International Stock Performance

NYSE:ORI opened at $40.60 on Friday. The stock has a market cap of $10.09 billion, a P/E ratio of 13.90 and a beta of 0.78. The firm's fifty day simple moving average is $38.09 and its 200 day simple moving average is $37.80. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $41.15. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26.

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 for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company's revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

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

Insider Activity at Old Republic International

In other Old Republic International news, Director Therace Risch bought 1,500 shares of Old Republic International stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average cost of $39.90 per share, with a total value of $59,850.00. Following the transaction, the director directly owned 9,625 shares of the company's stock, valued at $384,037.50. This represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction dated 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 in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

About Old Republic International

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.

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