Old Republic International Co. (NYSE:ORI) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. reduced its position in Old Republic International Co. (NYSE:ORI - Free Report) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 564,964 shares of the insurance provider's stock after selling 27,724 shares during the period. Ameriprise Financial Inc. owned approximately 0.22% of Old Republic International worth $20,446,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Old Republic International during the 4th quarter valued at about $105,581,000. Raymond James Financial Inc. purchased a new stake in shares of Old Republic International during the 4th quarter valued at about $67,054,000. Invesco Ltd. raised its holdings in shares of Old Republic International by 26.4% during the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after buying an additional 490,788 shares during the period. Northern Trust Corp raised its holdings in shares of Old Republic International by 14.4% during the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider's stock valued at $114,940,000 after buying an additional 400,384 shares during the period. Finally, Orca Wealth Management LLC purchased a new stake in shares of Old Republic International during the 4th quarter valued at about $5,209,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Craig R. Smiddy sold 5,296 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the sale, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. The trade was a 3.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares of the company's stock, valued at $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,354 shares of company stock worth $1,602,871 in the last three months. 1.10% of the stock is owned by insiders.

Old Republic International Price Performance

ORI stock opened at $37.93 on Friday. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 52-week low of $29.51 and a 52-week high of $39.84. The stock's 50 day moving average is $37.66 and its two-hundred day moving average is $36.96. The company has a market capitalization of $9.37 billion, a PE ratio of 14.42 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International's quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that Old Republic International Co. will post 3.17 earnings per share 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. Shareholders of record on Monday, March 10th were issued a dividend of $0.29 per share. The ex-dividend date was Monday, March 10th. This is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.06%. Old Republic International's payout ratio is currently 47.15%.

Analysts Set New Price Targets

Several brokerages recently commented on ORI. Piper Sandler set a $42.00 target price on Old Republic International in a report on Friday, April 25th. StockNews.com upgraded Old Republic International from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Raymond James set a $42.00 target price on Old Republic International and gave the company an "outperform" rating in a report on Monday, April 28th.

About Old Republic International

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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