Miller Howard Investments Inc. NY Cuts Stock Position in Old Republic International Corporation (NYSE:ORI)

Miller Howard Investments Inc. NY decreased its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 1.5% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,018,211 shares of the insurance provider's stock after selling 31,036 shares during the period. Old Republic International accounts for 2.5% of Miller Howard Investments Inc. NY's investment portfolio, making the stock its 7th biggest position. Miller Howard Investments Inc. NY owned approximately 0.82% of Old Republic International worth $79,154,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HWG Holdings LP acquired a new position in shares of Old Republic International during the first quarter worth $25,000. Alpine Bank Wealth Management bought a new position in Old Republic International in the first quarter worth about $31,000. Fairway Wealth LLC acquired a new stake in Old Republic International in the fourth quarter worth $29,000. SBI Securities Co. Ltd. bought a new position in Old Republic International in the 4th quarter worth about $34,000. Finally, Transce3nd LLC acquired a new stake in Old Republic International in the 4th quarter valued at approximately $41,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Old Republic International Price Performance

Shares of ORI traded up $1.59 during trading hours on Friday, hitting $39.12. 701,485 shares of the company were exchanged, compared to its average volume of 1,204,706. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.24 and a quick ratio of 0.24. The company has a market capitalization of $9.67 billion, a PE ratio of 15.90 and a beta of 0.73. The firm has a fifty day simple moving average of $37.71 and a 200-day simple moving average of $37.09. Old Republic International Corporation has a one year low of $29.97 and a one year high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.99% and a net margin of 9.37%. The firm had revenue of $2.06 billion for the quarter, compared to analysts' expectations of $2.03 billion. The company's quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, June 6th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.97%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio (DPR) is currently 47.15%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 10,601 shares of the firm's stock in a transaction dated Thursday, May 1st. The stock was 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 directly owned 35,755 shares in the company, valued at approximately $1,336,521.90. This trade represents a 22.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on ORI shares. Wall Street Zen upgraded shares of Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, June 27th. Piper Sandler set a $42.00 price target on Old Republic International in a research report on Friday, April 25th. Finally, Raymond James Financial set a $42.00 price objective on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th.

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.