Bank of America Corp DE Lowers Holdings in Old Republic International Co. (NYSE:ORI)

Bank of America Corp DE lowered its stake in Old Republic International Co. (NYSE:ORI - Free Report) by 50.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 224,710 shares of the insurance provider's stock after selling 226,533 shares during the quarter. Bank of America Corp DE owned about 0.09% of Old Republic International worth $8,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of Old Republic International by 1.6% in the 4th quarter. Parallel Advisors LLC now owns 18,884 shares of the insurance provider's stock valued at $683,000 after purchasing an additional 290 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Old Republic International by 1.6% in the fourth quarter. Venturi Wealth Management LLC now owns 18,715 shares of the insurance provider's stock valued at $677,000 after acquiring an additional 295 shares during the period. Ironwood Investment Management LLC boosted its position in shares of Old Republic International by 1.3% in the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock valued at $850,000 after acquiring an additional 301 shares during the period. Atomi Financial Group Inc. lifted its position in Old Republic International by 4.1% in the fourth quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider's stock worth $279,000 after purchasing an additional 302 shares during the period. Finally, Berry Wealth Group LP lifted its position in Old Republic International by 5.2% in the fourth quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider's stock worth $226,000 after purchasing an additional 310 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Old Republic International Stock Performance

NYSE ORI traded up $0.08 on Friday, reaching $37.68. The stock had a trading volume of 92,565 shares, compared to its average volume of 1,199,767. 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 fifty day moving average of $37.75 and a two-hundred day moving average of $37.11. Old Republic International Co. has a 1-year low of $29.51 and a 1-year high of $39.84. The company has a market cap of $9.31 billion, a P/E ratio of 14.33 and a beta of 0.74.

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

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, June 6th will be paid a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.08%. Old Republic International's dividend payout ratio is currently 47.15%.

Wall Street Analyst Weigh In

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

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.