Summit Investment Advisors Inc. Sells 10,115 Shares of Old Republic International Co. (NYSE:ORI)

Summit Investment Advisors Inc. cut its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,435 shares of the insurance provider's stock after selling 10,115 shares during the quarter. Summit Investment Advisors Inc.'s holdings in Old Republic International were worth $4,359,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. HighTower Advisors LLC grew its position in Old Republic International by 3.1% during the third quarter. HighTower Advisors LLC now owns 49,609 shares of the insurance provider's stock worth $1,767,000 after buying an additional 1,476 shares in the last quarter. Stifel Financial Corp grew its holdings in Old Republic International by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider's stock worth $1,236,000 after acquiring an additional 495 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in Old Republic International by 40.7% in the third quarter. Y Intercept Hong Kong Ltd now owns 22,764 shares of the insurance provider's stock valued at $806,000 after buying an additional 6,589 shares during the period. Barclays PLC boosted its position in shares of Old Republic International by 51.3% during the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock worth $9,665,000 after purchasing an additional 92,591 shares in the last quarter. Finally, Sanctuary Advisors LLC raised its stake in Old Republic International by 0.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 120,122 shares of the insurance provider's stock worth $4,637,000 after buying an additional 816 shares during the period. Institutional investors and hedge funds own 70.92% of the company's stock.

Old Republic International Price Performance

NYSE:ORI traded up $0.12 during trading hours on Friday, hitting $37.83. 909,728 shares of the company's stock traded hands, compared to its average volume of 1,265,969. The firm has a market cap of $9.35 billion, a P/E ratio of 14.38 and a beta of 0.68. 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 business's fifty day simple moving average is $37.36 and its two-hundred day simple moving average is $36.65. Old Republic International Co. has a 52 week low of $28.65 and a 52 week high of $39.84.

Old Republic International (NYSE:ORI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. On average, research analysts anticipate 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. Stockholders of record on Monday, March 10th were paid a $0.29 dividend. 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. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.07%. Old Republic International's dividend payout ratio is 44.11%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ORI. Piper Sandler upped their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. StockNews.com cut shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Insider Buying and Selling

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 transaction of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total transaction of $333,983.80. Following the sale, the senior vice president now directly owns 33,556 shares in the company, valued at $1,219,760.60. The trade was a 21.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,039 shares of company stock worth $1,580,733 in the last 90 days. 1.10% of the stock is owned by company insiders.

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.