Old Republic International Co. (NYSE:ORI) Position Cut by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its stake in Old Republic International Co. (NYSE:ORI - Free Report) by 61.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,313 shares of the insurance provider's stock after selling 31,793 shares during the period. Point72 Hong Kong Ltd's holdings in Old Republic International were worth $735,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Fairway Wealth LLC acquired a new stake in shares of Old Republic International in the fourth quarter valued at about $29,000. SBI Securities Co. Ltd. purchased a new position in Old Republic International in the 4th quarter worth approximately $34,000. Core Alternative Capital acquired a new stake in Old Republic International in the fourth quarter valued at approximately $36,000. Synergy Asset Management LLC purchased a new stake in shares of Old Republic International during the fourth quarter valued at approximately $39,000. Finally, Crews Bank & Trust acquired a new position in shares of Old Republic International during the fourth quarter worth $40,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Down 2.1%

Old Republic International stock traded down $0.83 during midday trading on Wednesday, hitting $37.58. The stock had a trading volume of 337,795 shares, compared to its average volume of 1,196,369. The business has a fifty day moving average price of $37.78 and a 200 day moving average price of $37.05. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84. The stock has a market cap of $9.29 billion, a P/E ratio of 14.30 and a beta of 0.74. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

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. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The business had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The firm's revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts predict that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a $0.29 dividend. This is an increase from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International's dividend payout ratio (DPR) is presently 47.15%.

Analyst Ratings Changes

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

Insider Activity

In related news, SVP Carolyn Monroe sold 10,601 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total transaction of $396,265.38. Following the completion of the transaction, the senior vice president now owns 35,755 shares in the company, valued at $1,336,521.90. The trade was a 22.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction 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 $5,335,369.20. This represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,354 shares of company stock valued at $1,602,871. Company insiders own 1.10% of the company's stock.

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.