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 trimmed its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 39.1% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,267 shares of the insurance provider's stock after selling 9,789 shares during the quarter. Lynx Investment Advisory's holdings in Old Republic International were worth $599,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Invst LLC bought a new stake in shares of Old Republic International during the first quarter valued at approximately $681,000. Strs Ohio bought a new stake in shares of Old Republic International during the 1st quarter valued at $3,145,000. WBI Investments LLC boosted its holdings in shares of Old Republic International by 11.7% during the 1st quarter. WBI Investments LLC now owns 71,575 shares of the insurance provider's stock valued at $2,807,000 after buying an additional 7,511 shares in the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Old Republic International by 518.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 14,196 shares of the insurance provider's stock valued at $557,000 after buying an additional 11,899 shares in the last quarter. Finally, Integrity Alliance LLC. bought a new stake in Old Republic International during the first quarter worth about $536,000. 70.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ORI has been the topic of several research reports. 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 boosted their price target on Old Republic International from $41.00 to $45.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 2nd. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $43.50.

Insider Activity

In other news, EVP Stephen J. Oberst sold 4,797 shares of the firm's stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares of the company's stock, valued at $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Therace Risch acquired 1,500 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares in the company, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

Shares of NYSE:ORI traded up $0.35 during midday trading on Wednesday, reaching $39.55. 294,482 shares of the company's stock traded hands, compared to its average volume of 1,305,140. The company has a market cap of $9.83 billion, a price-to-earnings ratio of 13.54 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. Old Republic International Corporation has a one year low of $33.00 and a one year high of $41.15. The stock has a 50 day moving average of $38.19 and a 200 day moving average of $37.84.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) 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 business's quarterly revenue was up 10.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

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

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.