Victory Capital Management Inc. Cuts Stock Holdings in Old Republic International Corporation (NYSE:ORI)

Victory Capital Management Inc. reduced its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 0.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,972,832 shares of the insurance provider's stock after selling 55,090 shares during the quarter. Victory Capital Management Inc. owned approximately 4.03% of Old Republic International worth $391,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Northern Trust Corp grew its stake in shares of Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock worth $114,940,000 after acquiring an additional 400,384 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Old Republic International by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock valued at $114,453,000 after buying an additional 100,264 shares in the last quarter. Norges Bank purchased a new position in shares of Old Republic International during the 4th quarter valued at about $105,581,000. Invesco Ltd. increased its stake in Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock worth $85,044,000 after purchasing an additional 490,788 shares during the period. Finally, AQR Capital Management LLC increased its stake in Old Republic International by 2.7% in the 4th quarter. AQR Capital Management LLC now owns 1,885,011 shares of the insurance provider's stock worth $68,219,000 after purchasing an additional 49,160 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

ORI traded up $0.04 during midday trading on Friday, reaching $36.79. The company had a trading volume of 1,691,456 shares, compared to its average volume of 1,225,320. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average of $37.53 and a two-hundred day moving average of $37.14. The company has a market cap of $9.09 billion, a P/E ratio of 14.96 and a beta of 0.73. Old Republic International Corporation has a 1 year low of $31.78 and a 1 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 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 20.99% and a net margin of 9.37%. The company's revenue was up 11.4% on a year-over-year basis. As a group, equities research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, June 6th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date was Friday, June 6th. Old Republic International's payout ratio is presently 47.15%.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ORI. Piper Sandler set a $42.00 target price on Old Republic International in a research note on Friday, April 25th. Wall Street Zen downgraded Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Finally, Raymond James Financial set a $42.00 target price on Old Republic International and gave the stock 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.