Pacer Advisors Inc. Has $520,000 Stock Position in Old Republic International Corporation (NYSE:ORI)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in Old Republic International Corporation by 69.9%, owning 13,260 shares valued at approximately $520,000 as of the last SEC filing.
• Old Republic International reported earnings per share of $0.83 for the quarter, surpassing analysts’ expectations, with total revenue of $2.21 billion, a 10.1% increase year-over-year.
• The company announced a quarterly dividend of $0.29 per share, representing an annualized yield of 3.2% and a dividend payout ratio of 39.73%.

Pacer Advisors Inc. trimmed its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 69.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,260 shares of the insurance provider's stock after selling 30,865 shares during the quarter. Pacer Advisors Inc.'s holdings in Old Republic International were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. HWG Holdings LP acquired a new position in shares of Old Republic International in the 1st quarter worth approximately $25,000. Alpine Bank Wealth Management acquired a new position in shares of Old Republic International in the 1st quarter worth approximately $31,000. Wayfinding Financial LLC purchased a new position in shares of Old Republic International in the first quarter worth approximately $34,000. Transce3nd LLC purchased a new position in shares of Old Republic International in the fourth quarter worth approximately $41,000. Finally, Huntington National Bank increased its position in shares of Old Republic International by 34.8% in the fourth quarter. Huntington National Bank now owns 1,737 shares of the insurance provider's stock worth $63,000 after acquiring an additional 448 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Piper Sandler dropped their target price on shares of Old Republic International from $42.00 to $41.00 and set an "overweight" rating on the stock in a research report on Friday, July 25th. Finally, Raymond James Financial set a $42.00 target price on shares of Old Republic International and gave the stock an "outperform" rating in a research report on Monday, April 28th.

Old Republic International Stock Up 0.9%

ORI traded up $0.33 on Tuesday, reaching $36.68. 406,236 shares of the company traded hands, compared to its average volume of 1,326,870. The stock's 50 day moving average price is $37.20 and its 200-day moving average price is $37.27. Old Republic International Corporation has a 52-week low of $33.00 and a 52-week high of $39.84. The company has a market cap of $9.07 billion, a price-to-earnings ratio of 12.57 and a beta of 0.74. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.63 and a quick ratio of 0.24.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The firm had revenue of $2.21 billion for 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%. Old Republic International's revenue was up 10.1% compared to the same quarter last year. On average, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.2%. The ex-dividend date was Friday, June 6th. Old Republic International's dividend payout ratio is presently 39.73%.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the transaction, the senior vice president directly owned 35,755 shares in the company, valued at $1,305,772.60. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

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.