Systematic Financial Management LP Trims Stock Position in Old Republic International Corporation $ORI

Key Points

• Systematic Financial Management LP reduced its stake in Old Republic International by 7.4% in the fourth quarter, selling 64,770 shares and ending with 807,191 shares valued at about $36.8 million.
• Wall Street sentiment is mixed but slightly constructive: the stock carries a Moderate Buy consensus rating with a $42.00 price target, though recent analyst calls ranged from neutral to strong sell.
• Old Republic International reported mixed quarterly results, with EPS of $0.68 missing estimates while revenue rose 6.7% year over year to $2.40 billion; the company also announced a quarterly dividend of $0.315 per share, yielding about 3.2%.

Systematic Financial Management LP cut its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 7.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 807,191 shares of the insurance provider's stock after selling 64,770 shares during the period. Systematic Financial Management LP owned approximately 0.33% of Old Republic International worth $36,840,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB raised its stake in Old Republic International by 28.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider's stock valued at $43,000 after acquiring an additional 222 shares during the last quarter. Signet Financial Management LLC raised its stake in Old Republic International by 2.5% during the 4th quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider's stock valued at $500,000 after acquiring an additional 263 shares during the last quarter. waypoint wealth counsel raised its stake in Old Republic International by 3.3% during the 4th quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider's stock valued at $383,000 after acquiring an additional 265 shares during the last quarter. Clearstead Trust LLC raised its stake in Old Republic International by 65.6% during the 3rd quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider's stock valued at $31,000 after acquiring an additional 288 shares during the last quarter. Finally, Mainsail Asset Management LLC raised its stake in Old Republic International by 5.9% during the 4th quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider's stock valued at $246,000 after acquiring an additional 300 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Piper Sandler upped their price objective on Old Republic International from $38.00 to $40.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Weiss Ratings downgraded Old Republic International from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, March 27th. Raymond James Financial set a $44.00 price objective on Old Republic International in a research note on Monday, April 27th. Finally, Zacks Research downgraded Old Republic International from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $42.00.

Old Republic International Stock Performance

NYSE ORI opened at $39.35 on Friday. The company has a current ratio of 0.23, a quick ratio of 0.23 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $40.08 and its two-hundred day moving average is $41.97. Old Republic International Corporation has a 12-month low of $35.60 and a 12-month high of $46.76. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 10.55 and a beta of 0.63.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The business's revenue for the quarter was up 6.7% on a year-over-year basis. Research analysts expect that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be given a dividend of $0.315 per share. The ex-dividend date is Friday, June 5th. This represents a $1.26 annualized dividend and a yield of 3.2%. Old Republic International's payout ratio is presently 33.78%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president owned 32,261 shares in the company, valued at $1,250,436.36. This represents a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith purchased 1,135 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was purchased at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.32% of the company's stock.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.

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