Third Avenue Management LLC Has $13.19 Million Position in Old Republic International Corporation $ORI

Key Points

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Third Avenue Management LLC cut its stake in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 27.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 336,388 shares of the insurance provider's stock after selling 129,090 shares during the quarter. Old Republic International accounts for about 2.6% of Third Avenue Management LLC's portfolio, making the stock its 12th largest position. Third Avenue Management LLC owned about 0.14% of Old Republic International worth $13,193,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Old Republic International by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider's stock valued at $23,143,000 after purchasing an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Old Republic International by 304.7% during the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider's stock valued at $607,000 after purchasing an additional 11,534 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Old Republic International by 4,738.8% during the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider's stock valued at $8,500,000 after purchasing an additional 212,251 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Old Republic International by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider's stock worth $114,453,000 after acquiring an additional 100,264 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in Old Republic International by 336.1% during the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider's stock worth $980,000 after acquiring an additional 19,254 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Trading Up 1.3%

Shares of NYSE:ORI traded up $0.5170 during trading on Friday, reaching $39.9170. The stock had a trading volume of 1,228,701 shares, compared to its average volume of 1,403,902. The firm's fifty day moving average is $37.42 and its 200 day moving average is $37.44. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.25 and a current ratio of 0.25. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $40.20. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 13.67 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last posted 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. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Old Republic International's quarterly revenue was up 10.1% on a year-over-year basis. As a group, equities analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, September 5th will be paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, September 5th. Old Republic International's dividend payout ratio is currently 39.73%.

Insider Activity

In related news, SVP Carolyn Monroe sold 6,849 shares of the business'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 transaction, the senior vice president owned 35,755 shares in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ORI. Piper Sandler reduced 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 report on Friday, July 25th. Wall Street Zen lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Saturday, July 12th. 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 report on Monday, April 28th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Old Republic International has a consensus rating of "Buy" and a consensus price target 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.