Old Republic International Corporation (NYSE:ORI) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC reduced its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 45.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,192 shares of the insurance provider's stock after selling 6,849 shares during the period. Mutual Advisors LLC's holdings in Old Republic International were worth $305,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Old Republic International during the fourth quarter worth approximately $105,581,000. Raymond James Financial Inc. purchased a new stake in shares of Old Republic International during the 4th quarter worth $67,054,000. Invesco Ltd. boosted 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 in the last quarter. Northern Trust Corp boosted its position in shares of Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after purchasing an additional 400,384 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Old Republic International by 93.8% during the 4th quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider's stock worth $29,802,000 after purchasing an additional 398,531 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Carolyn Monroe sold 10,601 shares of the business's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the transaction, the senior vice president owned 35,755 shares of the company's stock, valued at approximately $1,336,521.90. The trade was a 22.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of several research analyst reports. Piper Sandler set a $42.00 target price on shares of Old Republic International in a research report on Friday, April 25th. Raymond James Financial set a $42.00 target price on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, June 27th.

Old Republic International Price Performance

Shares of Old Republic International stock traded down $1.12 on Thursday, hitting $36.33. The company's stock had a trading volume of 921,532 shares, compared to its average volume of 1,208,672. Old Republic International Corporation has a 52-week low of $30.02 and a 52-week high of $39.84. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27. The firm has a fifty day moving average price of $37.70 and a 200-day moving average price of $37.12. The company has a market capitalization of $8.98 billion, a P/E ratio of 14.75 and a beta of 0.73.

Old Republic International (NYSE:ORI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a net margin of 9.37% and a return on equity of 20.99%. The business had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International's quarterly revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend was Friday, June 6th. Old Republic International's payout ratio is 47.15%.

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.