Old Republic International Co. (NYSE:ORI) Stake Lowered by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 661,472 shares of the insurance provider's stock after selling 10,096 shares during the quarter. Rhumbline Advisers owned about 0.27% of Old Republic International worth $25,943,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ORI. Fairway Wealth LLC bought a new position in Old Republic International during the 4th quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in shares of Old Republic International during the fourth quarter worth about $34,000. Core Alternative Capital bought a new position in shares of Old Republic International during the fourth quarter worth about $36,000. Whipplewood Advisors LLC bought a new position in shares of Old Republic International during the fourth quarter worth about $41,000. Finally, Millstone Evans Group LLC bought a new position in Old Republic International in the 4th quarter worth about $41,000. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Old Republic International Stock Performance

Shares of ORI opened at $37.33 on Friday. The firm has a 50-day moving average price of $37.64 and a 200 day moving average price of $37.12. The firm has a market capitalization of $9.23 billion, a PE ratio of 14.19 and a beta of 0.74. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 52-week low of $29.51 and a 52-week 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, beating the consensus estimate of $0.73 by $0.08. The business had revenue of $2.06 billion during the quarter, compared to analysts' expectations of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Old Republic International's revenue for the quarter was up 11.4% compared to the same quarter last year. On average, 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 paid a dividend of $0.29 per share. The ex-dividend date is Friday, June 6th. This represents a $1.16 annualized dividend and a yield of 3.11%. Old Republic International's dividend payout ratio is currently 47.15%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 10,601 shares of the firm's 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 completion of the sale, the senior vice president now directly owns 35,755 shares in the company, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas Dare sold 27,457 shares of the firm's 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 sale, the vice president now directly owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

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.

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