Redwood Investment Management LLC Sells 13,658 Shares of Old Republic International Corporation $ORI

Key Points

• Redwood Investment Management LLC reduced its stake in Old Republic International Corporation by 9.7%, owning approximately 0.05% of the company after selling 13,658 shares, valued at about $5 million.
• In recent transactions, insiders sold significant shares, including SVP Carolyn Monroe and EVP Stephen J. Oberst, indicating a decrease in their ownership by 16.08% and 8.07%, respectively.
• Old Republic International announced a quarterly dividend of $0.29 per share, representing an annualized dividend yield of 2.9%, with a payout ratio currently at 39.73%.

Redwood Investment Management LLC lessened its holdings in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 9.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 127,572 shares of the insurance provider's stock after selling 13,658 shares during the period. Redwood Investment Management LLC owned about 0.05% of Old Republic International worth $5,003,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Martingale Asset Management L P lifted its holdings in shares of Old Republic International by 3.4% during the 1st quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock worth $323,000 after acquiring an additional 269 shares during the period. Atria Wealth Solutions Inc. lifted its holdings in shares of Old Republic International by 3.6% during the 1st quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock worth $355,000 after acquiring an additional 314 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Old Republic International by 1.8% during the 1st quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock worth $747,000 after acquiring an additional 340 shares during the period. Penbrook Management LLC lifted its holdings in shares of Old Republic International by 5.0% during the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock worth $333,000 after acquiring an additional 400 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Old Republic International by 1.3% during the 1st quarter. Deutsche Bank AG now owns 35,004 shares of the insurance provider's stock worth $1,373,000 after acquiring an additional 433 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Price Performance

NYSE:ORI traded down $0.32 on Thursday, hitting $39.73. The company had a trading volume of 1,345,605 shares, compared to its average volume of 1,264,537. The stock has a market capitalization of $9.87 billion, a price-to-earnings ratio of 13.60 and a beta of 0.74. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $37.64 and a two-hundred day moving average of $37.53. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $40.21.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company's revenue was up 10.1% on a year-over-year basis. On average, research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International's dividend payout ratio is 39.73%.

Insider Activity at Old Republic International

In other news, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carolyn Monroe sold 6,849 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,305,772.60. This represents a 16.08% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ORI shares. Piper Sandler cut their price target on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating for the company in a report on Friday, July 25th. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $41.50.

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.