PNC Financial Services Group Inc. Has $6.78 Million Stock Holdings in Old Republic International Corporation (NYSE:ORI)

PNC Financial Services Group Inc. lowered its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 5.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,793 shares of the insurance provider's stock after selling 9,607 shares during the period. PNC Financial Services Group Inc. owned 0.07% of Old Republic International worth $6,777,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its stake in Old Republic International by 1.8% in the first quarter. Venturi Wealth Management LLC now owns 19,055 shares of the insurance provider's stock valued at $747,000 after acquiring an additional 340 shares during the last quarter. Penbrook Management LLC lifted its stake in Old Republic International by 5.0% in the 1st quarter. Penbrook Management LLC now owns 8,480 shares of the insurance provider's stock valued at $333,000 after purchasing an additional 400 shares during the last quarter. Advisory Services Network LLC grew its holdings in Old Republic International by 4.5% during the fourth quarter. Advisory Services Network LLC now owns 9,452 shares of the insurance provider's stock worth $342,000 after purchasing an additional 404 shares during the period. NDVR Inc. increased its position in Old Republic International by 7.6% during the fourth quarter. NDVR Inc. now owns 7,516 shares of the insurance provider's stock worth $272,000 after buying an additional 534 shares during the last quarter. Finally, State of Michigan Retirement System increased its position in Old Republic International by 1.1% during the first quarter. State of Michigan Retirement System now owns 55,878 shares of the insurance provider's stock worth $2,192,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Stock Performance

ORI stock traded up $0.26 during mid-day trading on Friday, hitting $37.35. 1,027,377 shares of the company were exchanged, compared to its average volume of 1,619,191. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $39.84. The stock has a market capitalization of $9.28 billion, a PE ratio of 12.79 and a beta of 0.74. The business has a 50 day simple moving average of $37.13 and a 200-day simple moving average of $37.30. The company has a current ratio of 0.25, a quick ratio of 0.24 and a debt-to-equity ratio of 0.26.

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

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, June 6th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Friday, June 6th. Old Republic International's payout ratio is presently 39.73%.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Carolyn Monroe sold 6,849 shares of the company's stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company's stock.

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.