Cresset Asset Management LLC Sells 24,620 Shares of Old Republic International Co. (NYSE:ORI)

Cresset Asset Management LLC reduced its stake in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,884 shares of the insurance provider's stock after selling 24,620 shares during the period. Cresset Asset Management LLC's holdings in Old Republic International were worth $1,407,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ORI. Crestline Management LP increased its position in Old Republic International by 90.2% during the 4th quarter. Crestline Management LP now owns 40,795 shares of the insurance provider's stock worth $1,476,000 after purchasing an additional 19,347 shares in the last quarter. Cubist Systematic Strategies LLC increased its position in Old Republic International by 1,424.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 269,848 shares of the insurance provider's stock worth $9,766,000 after purchasing an additional 252,143 shares in the last quarter. Cetera Investment Advisers increased its position in Old Republic International by 0.9% during the 4th quarter. Cetera Investment Advisers now owns 103,125 shares of the insurance provider's stock worth $3,732,000 after purchasing an additional 948 shares in the last quarter. Bramshill Investments LLC acquired a new stake in Old Republic International during the 4th quarter worth approximately $1,427,000. Finally, Captrust Financial Advisors increased its position in Old Republic International by 4.0% during the 4th quarter. Captrust Financial Advisors now owns 78,500 shares of the insurance provider's stock worth $2,841,000 after purchasing an additional 2,995 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of ORI traded down $0.37 during midday trading on Wednesday, hitting $37.33. 1,018,835 shares of the stock traded hands, compared to its average volume of 1,205,715. Old Republic International Co. has a 1-year low of $29.51 and a 1-year high of $39.84. The business's 50 day moving average price is $37.64 and its two-hundred day moving average price is $36.94. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62. The firm has a market capitalization of $9.23 billion, a PE ratio of 14.19 and a beta of 0.74.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, beating analysts' consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. Old Republic International's revenue was up 11.4% compared to the same quarter last year. Equities research analysts predict that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.11%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's dividend payout ratio is presently 47.15%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ORI. StockNews.com raised shares of Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, April 25th. Raymond James set a $42.00 price objective on shares of Old Republic International and gave the company an "outperform" rating in a research report on Monday, April 28th. Finally, Piper Sandler set a $42.00 price target on shares of Old Republic International in a research report on Friday, April 25th.

Insider Activity

In related news, VP Thomas Dare sold 27,457 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares in the company, valued at $1,699,294. This trade represents a 37.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now owns 138,222 shares of the company's stock, 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. Over the last three months, insiders sold 43,354 shares of company stock valued at $1,602,871. 1.10% of the stock is owned by company insiders.

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.