UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 35,612 Shares of Old Republic International Corporation $ORI

Key Points

• UBS Asset Management reduced its Old Republic International stake by 5.1% in the second quarter, selling 35,612 shares and retaining 659,013 shares valued at approximately $27.0 million. Institutional investors and hedge funds collectively own 70.92% of the company.
• Analyst sentiment remains favorable, with Old Republic carrying a consensus “Moderate Buy” rating and an average price target of $41.50, although Piper Sandler lowered its target to $39 and assigned a neutral rating.
• Old Republic reported quarterly EPS of $0.76, below the $0.79 consensus estimate, while revenue rose 5.2% year over year to $2.50 billion. The company also announced a quarterly dividend of $0.315 per share, implying a 3.0% annual yield.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Old Republic International Corporation (NYSE:ORI - Free Report) by 5.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 659,013 shares of the insurance provider's stock after selling 35,612 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.27% of Old Republic International worth $26,967,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of ORI. Commonwealth Retirement Investments LLC acquired a new position in Old Republic International in the fourth quarter worth $27,000. JPL Wealth Management LLC bought a new position in shares of Old Republic International in the third quarter valued at about $27,000. Hilton Head Capital Partners LLC acquired a new position in Old Republic International during the 4th quarter worth about $38,000. International Assets Investment Management LLC acquired a new position in Old Republic International during the 4th quarter worth about $41,000. Finally, Wilmington Savings Fund Society FSB grew its holdings 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 worth $43,000 after acquiring an additional 222 shares during the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Old Republic International in a research note on Wednesday, July 8th. Zacks Research raised Old Republic International from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Piper Sandler lowered their target price on Old Republic International from $40.00 to $39.00 and set a "neutral" rating for the company in a research note on Friday, July 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Old Republic International presently has an average rating of "Moderate Buy" and a consensus price target of $41.50.

Insider Buying and Selling at Old Republic International

In other news, SVP Carolyn Monroe sold 4,386 shares of the firm's stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $42.01, for a total value of $184,255.86. Following the transaction, the senior vice president directly owned 27,875 shares in the company, valued at $1,171,028.75. This trade represents a 13.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen J. Oberst sold 13,125 shares of Old Republic International stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $43.96, for a total value of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares of the company's stock, valued at approximately $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 33,374 shares of company stock worth $1,452,714. Insiders own 1.32% of the company's stock.

Old Republic International Stock Performance

Old Republic International stock opened at $42.64 on Friday. The company has a market cap of $10.29 billion, a PE ratio of 10.08 and a beta of 0.57. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.38. Old Republic International Corporation has a 1 year low of $36.65 and a 1 year high of $46.76. The company's 50-day moving average is $42.21 and its two-hundred day moving average is $40.78.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.03). The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.38 billion. Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.81 EPS. Equities analysts anticipate that Old Republic International Corporation will post 2.91 earnings per share for the current year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. Old Republic International's payout ratio is currently 29.79%.

Old Republic International 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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