Mackenzie Financial Corp Cuts Position in Old Republic International Co. (NYSE:ORI)

Mackenzie Financial Corp lessened its position in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 265,632 shares of the insurance provider's stock after selling 33,903 shares during the period. Mackenzie Financial Corp owned approximately 0.10% of Old Republic International worth $9,613,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ORI. Fairway Wealth LLC purchased a new stake in shares of Old Republic International in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Old Republic International during the 4th quarter worth $34,000. Core Alternative Capital bought a new stake in shares of Old Republic International during the 4th quarter worth $36,000. Synergy Asset Management LLC bought a new stake in shares of Old Republic International during the 4th quarter worth $39,000. Finally, Crews Bank & Trust bought a new stake in shares of Old Republic International during the 4th quarter worth $40,000. Institutional investors own 70.92% of the company's stock.

Old Republic International Stock Up 0.6%

Shares of NYSE:ORI traded up $0.21 on Friday, hitting $37.81. 2,078,641 shares of the company traded hands, compared to its average volume of 1,207,608. Old Republic International Co. has a 52 week low of $29.51 and a 52 week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock has a 50 day simple moving average of $37.74 and a 200-day simple moving average of $37.11. The company has a market cap of $9.35 billion, a PE ratio of 14.38 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 20.32% and a net margin of 10.36%. The company's revenue was up 11.4% on a year-over-year basis. As a group, research analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is presently 47.15%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler set a $42.00 target price on Old Republic International in a research note on Friday, April 25th. Raymond James set a $42.00 price target on Old Republic International and gave the company 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 report on Friday, April 25th.

Insider Buying and Selling at Old Republic International

In other news, VP Thomas Dare sold 27,457 shares of Old Republic International stock in a transaction that occurred 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 owns 46,556 shares in the company, valued at approximately $1,699,294. The trade was a 37.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total value of $204,425.60. Following the sale, the chief executive officer now owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. This trade represents a 3.69% 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 in the last 90 days. Insiders own 1.10% of the company's stock.

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.