Old Republic International Corporation $ORI Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its stake in Old Republic by 19.8%, selling 54,896 shares and now holds 222,454 shares worth about $10.16 million (≈0.09% of the company).
• Old Republic missed quarterly EPS ($0.68 vs. $0.79 expected) while revenue of $2.40 billion slightly beat estimates and rose 6.7% year-over-year; the stock trades at a P/E of 10.54 with a market cap of $9.57 billion.
• The company raised its quarterly dividend to $0.315 (annualized $1.26), implying a yield around 3.2% and a payout ratio near 33.8%.

Mitsubishi UFJ Trust & Banking Corp decreased its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 19.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 222,454 shares of the insurance provider's stock after selling 54,896 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Old Republic International worth $10,156,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB lifted its stake in shares of Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider's stock valued at $43,000 after buying an additional 222 shares during the period. Signet Financial Management LLC lifted its stake in shares of Old Republic International by 2.5% during the fourth quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider's stock valued at $500,000 after buying an additional 263 shares during the period. waypoint wealth counsel lifted its stake in shares of Old Republic International by 3.3% during the fourth quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider's stock valued at $383,000 after buying an additional 265 shares during the period. Clearstead Trust LLC lifted its stake in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock valued at $31,000 after buying an additional 288 shares during the period. Finally, Centennial Wealth Advisory LLC lifted its stake in shares of Old Republic International by 2.3% during the third quarter. Centennial Wealth Advisory LLC now owns 13,099 shares of the insurance provider's stock valued at $556,000 after buying an additional 289 shares during the period. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the transaction, the senior vice president owned 27,875 shares of the company's stock, valued at $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Eric Smith purchased 1,135 shares of the business's stock in a transaction on Monday, March 2nd. The shares were bought at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the purchase, the director owned 4,276 shares of the company's stock, valued at $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 1.32% of the company's stock.

Old Republic International Stock Performance

NYSE:ORI opened at $39.31 on Friday. The company has a quick ratio of 0.27, a current ratio of 0.60 and a debt-to-equity ratio of 0.27. The company has a market cap of $9.57 billion, a P/E ratio of 10.54 and a beta of 0.63. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The firm's 50 day moving average is $40.78 and its two-hundred day moving average is $42.13.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business's revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.81 EPS. Analysts expect that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were paid a dividend of $0.315 per share. This is an increase from Old Republic International's previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend was Monday, March 9th. Old Republic International's payout ratio is 33.78%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Zacks Research downgraded shares of Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Wednesday. Piper Sandler upped their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings downgraded shares of Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. Finally, Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Old Republic International currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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