PNC Financial Services Group Inc. cut its holdings in Old Republic International Corporation (NYSE:ORI - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure 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 quarter. PNC Financial Services Group Inc. owned approximately 0.07% of Old Republic International worth $6,777,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. HWG Holdings LP bought a new stake in Old Republic International during the 1st quarter worth $25,000. Alpine Bank Wealth Management acquired a new stake in shares of Old Republic International during the first quarter valued at about $31,000. Wayfinding Financial LLC acquired a new stake in shares of Old Republic International during the first quarter valued at about $34,000. N.E.W. Advisory Services LLC bought a new stake in shares of Old Republic International during the first quarter worth about $35,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Old Republic International in the first quarter valued at approximately $36,000. Institutional investors own 70.92% of the company's stock.
Insider Buying and Selling
In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated 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 trade represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company's stock.
Wall Street Analysts Forecast Growth
ORI has been the topic of several recent research reports. 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. Piper Sandler dropped 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 research note on Friday, July 25th. Finally, Wall Street Zen cut shares of Old Republic International from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th.
Check Out Our Latest Stock Analysis on ORI
Old Republic International Trading Down 0.7%
Shares of ORI traded down $0.25 during mid-day trading on Thursday, reaching $37.08. 1,204,955 shares of the company were exchanged, compared to its average volume of 1,686,162. The business has a 50 day simple moving average of $37.14 and a two-hundred day simple moving average of $37.28. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.24 and a current ratio of 0.25. The stock has a market capitalization of $9.21 billion, a PE ratio of 12.70 and a beta of 0.74. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $39.84.
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 (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.04. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The business's revenue was up 10.1% on a year-over-year basis. On average, 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. Shareholders of record on Friday, June 6th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $1.16 dividend on an annualized basis and a yield of 3.1%. Old Republic International's dividend payout ratio is 39.73%.
About Old Republic International
(
Free Report)
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.
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