Guggenheim Capital LLC lessened its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 63.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 183,412 shares of the insurance provider's stock after selling 315,828 shares during the period. Guggenheim Capital LLC owned 0.07% of Old Republic International worth $6,638,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB bought a new stake in shares of Old Republic International during the third quarter worth approximately $28,000. Fairway Wealth LLC bought a new stake in Old Republic International in the 4th quarter valued at $29,000. SBI Securities Co. Ltd. acquired a new position in Old Republic International in the 4th quarter valued at $34,000. Core Alternative Capital acquired a new position in Old Republic International in the 4th quarter valued at $36,000. Finally, Synergy Asset Management LLC bought a new position in Old Republic International during the 4th quarter worth $39,000. Institutional investors own 70.92% of the company's stock.
Insider Activity
In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the transaction, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,039 shares of company stock valued at $1,580,733 in the last ninety days. 1.10% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several brokerages have weighed in on ORI. Piper Sandler lifted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 1st. StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.
Get Our Latest Report on ORI
Old Republic International Price Performance
Shares of ORI stock traded down $0.13 on Wednesday, reaching $37.85. The company had a trading volume of 305,309 shares, compared to its average volume of 1,224,610. The business's 50-day moving average is $37.44 and its 200 day moving average is $36.70. Old Republic International Co. has a one year low of $28.65 and a one year high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.36 billion, a PE ratio of 14.39 and a beta of 0.68.
Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Equities research analysts forecast that Old Republic International Co. will post 3.17 EPS for the current fiscal year.
Old Republic International Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a dividend yield of 3.06%. Old Republic International's dividend payout ratio (DPR) is 44.11%.
Old Republic International Company Profile
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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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