Systematic Financial Management LP Sells 6,643 Shares of Old Republic International Corporation $ORI

Key Points

• Systematic Financial Management LP has reduced its stake in Old Republic International by 0.7%, now holding approximately 903,582 shares, which represents about 1.0% of its investment portfolio.
• Several hedge funds, including Smartleaf Asset Management LLC and AlphaQuest LLC, have increased their holdings in Old Republic International significantly during the first quarter, indicating positive institutional interest.
• Old Republic International reported a 10.1% increase in revenue year-over-year, achieving $0.83 EPS for the quarter, which exceeded analysts' expectations.

Systematic Financial Management LP lowered its stake in Old Republic International Corporation (NYSE:ORI - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 903,582 shares of the insurance provider's stock after selling 6,643 shares during the period. Old Republic International accounts for 1.0% of Systematic Financial Management LP's holdings, making the stock its 24th largest holding. Systematic Financial Management LP owned approximately 0.37% of Old Republic International worth $35,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Martingale Asset Management L P grew its stake in shares of Old Republic International by 3.4% in the 1st quarter. Martingale Asset Management L P now owns 8,241 shares of the insurance provider's stock valued at $323,000 after buying an additional 269 shares during the period. Atria Wealth Solutions Inc. boosted its position in shares of Old Republic International by 3.6% during the first quarter. Atria Wealth Solutions Inc. now owns 9,047 shares of the insurance provider's stock valued at $355,000 after buying an additional 314 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Old Republic International by 1.8% during the first 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 Old Republic International by 5.0% during the first 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 Old Republic International by 1.3% during the first 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. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of ORI stock traded up $0.11 during trading on Tuesday, hitting $39.69. The company had a trading volume of 1,024,893 shares, compared to its average volume of 1,317,049. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26. The stock's 50-day moving average is $37.52 and its two-hundred day moving average is $37.49. The stock has a market capitalization of $9.86 billion, a price-to-earnings ratio of 13.59 and a beta of 0.74. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $40.20.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.21 billion for the quarter, compared to analysts' expectations 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 for the quarter was up 10.1% on a year-over-year basis. As a group, analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, September 5th will be given a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend 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 Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of Old Republic International stock in a transaction that occurred 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 transaction, the senior vice president directly owned 35,755 shares of the company's stock, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of Old Republic International stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. This trade represents a 8.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Piper Sandler dropped their target price on 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. Raymond James Financial set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Wall Street Zen cut Old Republic International from a "buy" rating to a "hold" rating in a research report on Saturday, July 12th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Old Republic International currently has an average rating of "Buy" and a consensus target price of $41.50.

Old Republic International Company 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.