Man Group plc Sells 47,072 Shares of Old Republic International Co. (NYSE:ORI)

Man Group plc reduced its position in Old Republic International Co. (NYSE:ORI - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 318,223 shares of the insurance provider's stock after selling 47,072 shares during the period. Man Group plc owned approximately 0.13% of Old Republic International worth $11,516,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Barclays PLC lifted its stake in Old Republic International by 51.3% during the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock valued at $9,665,000 after acquiring an additional 92,591 shares in the last quarter. Merit Financial Group LLC bought a new position in Old Republic International during the 4th quarter valued at $207,000. HB Wealth Management LLC bought a new position in Old Republic International during the 4th quarter valued at $251,000. UMB Bank n.a. increased its position in shares of Old Republic International by 2.4% during the 4th quarter. UMB Bank n.a. now owns 17,229 shares of the insurance provider's stock valued at $624,000 after purchasing an additional 408 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Old Republic International by 4.1% during the 4th quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider's stock valued at $279,000 after purchasing an additional 302 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Stock Performance

Shares of Old Republic International stock traded up $0.17 during trading hours on Friday, hitting $37.43. 986,655 shares of the company's stock traded hands, compared to its average volume of 1,198,288. The company has a fifty day simple moving average of $37.78 and a 200-day simple moving average of $37.09. Old Republic International Co. has a 12-month low of $29.51 and a 12-month high of $39.84. The stock has a market capitalization of $9.25 billion, a price-to-earnings ratio of 14.23 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. The business's revenue for the quarter was up 11.4% on a year-over-year basis. Equities research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.10%. Old Republic International's dividend payout ratio (DPR) is currently 47.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on ORI shares. Wall Street Zen raised Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Piper Sandler set a $42.00 target price on Old Republic International in a research report on Friday, April 25th. Finally, Raymond James set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th.

Insider Buying and Selling

In related news, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. This trade represents a 3.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the sale, the senior vice president now directly owns 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,354 shares of company stock valued at $1,602,871. 1.10% of the stock is owned by 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.