Point72 Asset Management L.P. Sells 94,097 Shares of Old Republic International Co. (NYSE:ORI)

Point72 Asset Management L.P. lessened its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 15.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 516,053 shares of the insurance provider's stock after selling 94,097 shares during the period. Point72 Asset Management L.P. owned 0.20% of Old Republic International worth $18,676,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its position 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 buying an additional 290 shares in the last quarter. Venturi Wealth Management LLC increased its stake in 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 last quarter. Ironwood Investment Management LLC lifted its stake in Old Republic International by 1.3% during the fourth quarter. Ironwood Investment Management LLC now owns 23,485 shares of the insurance provider's stock worth $850,000 after purchasing an additional 301 shares during the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Old Republic International by 4.1% in 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 in the last quarter. Finally, Berry Wealth Group LP boosted its holdings in shares of Old Republic International by 5.2% in the 4th quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider's stock valued at $226,000 after purchasing an additional 310 shares in the last quarter. Institutional investors own 70.92% of the company's stock.

Analyst Ratings Changes

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

Old Republic International Price Performance

Old Republic International stock traded up $0.04 during mid-day trading on Friday, reaching $37.30. The company had a trading volume of 114,613 shares, compared to its average volume of 1,194,176. The business has a fifty day simple moving average of $37.78 and a 200 day simple moving average of $37.07. The company has a market cap of $9.22 billion, a P/E ratio of 14.20 and a beta of 0.74. Old Republic International Co. has a fifty-two week low of $29.51 and a fifty-two week high of $39.84. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion during 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 firm's revenue 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 year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.11%. Old Republic International's payout ratio is 47.15%.

Insider Activity

In related news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total transaction of $396,265.38. Following the sale, the senior vice president now directly owns 35,755 shares in the company, valued at $1,336,521.90. This trade represents a 22.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,354 shares of company stock valued at $1,602,871. 1.10% of the stock is currently owned by corporate insiders.

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.