Schonfeld Strategic Advisors LLC Reduces Holdings in Old Republic International Co. (NYSE:ORI)

Schonfeld Strategic Advisors LLC reduced its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,323 shares of the insurance provider's stock after selling 6,651 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Old Republic International were worth $1,097,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ORI. Barclays PLC lifted its position in Old Republic International by 51.3% during the third quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock valued at $9,665,000 after purchasing an additional 92,591 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Old Republic International in the third quarter worth about $28,000. Franklin Resources Inc. lifted its position in shares of Old Republic International by 39.6% during the 3rd quarter. Franklin Resources Inc. now owns 454,792 shares of the insurance provider's stock valued at $16,209,000 after buying an additional 128,896 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Old Republic International by 5.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 851,492 shares of the insurance provider's stock valued at $30,160,000 after acquiring an additional 42,934 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Old Republic International by 17.3% in the 4th quarter. GAMMA Investing LLC now owns 4,479 shares of the insurance provider's stock worth $162,000 after acquiring an additional 661 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Raymond James set a $42.00 price target on shares of Old Republic International and gave the stock an "outperform" rating in a research report 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 objective on Old Republic International in a research report on Friday, April 25th.

Old Republic International Price Performance

ORI stock opened at $38.12 on Thursday. 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 company's fifty day moving average price is $37.64 and its 200-day moving average price is $36.86. Old Republic International Co. has a one year low of $29.51 and a one year high of $39.84. The company has a market capitalization of $9.42 billion, a PE ratio of 14.49 and a beta of 0.74.

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

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.04%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International's dividend payout ratio is 47.15%.

Insider Activity

In other news, SVP Carolyn Monroe sold 10,601 shares of Old Republic International stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the completion of the transaction, the senior vice president now owns 35,755 shares in the company, valued at approximately $1,336,521.90. The trade was a 22.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the sale, the chief executive officer now owns 138,222 shares in the company, valued at $5,335,369.20. The trade was a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,354 shares of company stock worth $1,602,871. 1.10% of the stock is currently owned by insiders.

Old Republic International Company 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.

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