Old Republic International Co. (NYSE:ORI) Shares Sold by Man Group plc

Man Group plc lowered 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 and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ORI. Norges Bank acquired a new position in Old Republic International during the fourth quarter worth about $105,581,000. Raymond James Financial Inc. purchased a new position in shares of Old Republic International during the 4th quarter worth approximately $67,054,000. Invesco Ltd. raised its position in shares of Old Republic International by 26.4% during the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after purchasing an additional 490,788 shares during the last quarter. Northern Trust Corp lifted its stake in Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after buying an additional 400,384 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Old Republic International by 93.8% in the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock valued at $29,802,000 after buying an additional 398,531 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now owns 35,755 shares in the company, valued at $1,336,521.90. This trade represents a 22.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas Dare sold 27,457 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares of the company's stock, valued at $1,699,294. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,354 shares of company stock valued at $1,602,871 in the last 90 days. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

Old Republic International Trading Down 0.9%

ORI stock traded down $0.32 during midday trading on Thursday, hitting $37.26. The stock had a trading volume of 1,095,610 shares, compared to its average volume of 1,199,146. The company's 50-day moving average price is $37.78 and its 200 day moving average price is $37.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The firm has a market cap of $9.21 billion, a PE ratio of 14.17 and a beta of 0.74. Old Republic International Co. has a 12-month low of $29.51 and a 12-month high of $39.84.

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

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.29 dividend. This is a boost from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 annualized dividend and a yield of 3.11%. Old Republic International's payout ratio is 47.15%.

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.