Old Republic International Co. (NYSE:ORI) Stake Trimmed by BNP Paribas Financial Markets

BNP Paribas Financial Markets trimmed its stake in Old Republic International Co. (NYSE:ORI - Free Report) by 31.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 27,760 shares of the insurance provider's stock after selling 12,643 shares during the quarter. BNP Paribas Financial Markets' holdings in Old Republic International were worth $1,005,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its stake in Old Republic International by 14.4% in the fourth 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 during the last quarter. Norges Bank bought a new stake in Old Republic International in the fourth quarter valued at $105,581,000. Invesco Ltd. lifted its stake in Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after buying an additional 490,788 shares during the last quarter. AQR Capital Management LLC lifted its stake in Old Republic International by 2.7% in the fourth quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock valued at $68,219,000 after buying an additional 49,160 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Old Republic International in the fourth quarter valued at $67,054,000. 70.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, 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 transaction, the senior vice president now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at $5,335,369.20. This represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,354 shares of company stock valued at $1,602,871 over the last three months. Company insiders own 1.10% of the company's stock.

Old Republic International Stock Performance

Shares of NYSE ORI traded up $0.17 during midday trading on Friday, reaching $37.43. 986,655 shares of the company traded hands, compared to its average volume of 1,197,324. The stock has a 50-day moving average price of $37.78 and a 200 day moving average price of $37.09. The company has a market cap of $9.25 billion, a price-to-earnings ratio of 14.23 and a beta of 0.74. Old Republic International Co. has a 52 week low of $29.51 and a 52 week high of $39.84. 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 released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. The firm 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%. Old Republic International's revenue was up 11.4% on a year-over-year basis. Sell-side analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

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