Voya Investment Management LLC Sells 129,075 Shares of Old Republic International Co. (NYSE:ORI)

Voya Investment Management LLC cut its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 49.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 131,524 shares of the insurance provider's stock after selling 129,075 shares during the quarter. Voya Investment Management LLC owned approximately 0.05% of Old Republic International worth $4,760,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Old Republic International during the 4th quarter valued at approximately $105,581,000. Raymond James Financial Inc. bought a new position in shares of Old Republic International in the fourth quarter worth $67,054,000. Invesco Ltd. grew its position in shares of Old Republic International by 26.4% in the fourth quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after purchasing an additional 490,788 shares in the last quarter. Orca Wealth Management LLC bought a new stake in shares of Old Republic International during the 4th quarter valued at $5,209,000. Finally, Wealthfront Advisers LLC purchased a new stake in Old Republic International during the 4th quarter worth about $5,409,000. Institutional investors own 70.92% of the company's stock.

Insider Activity at Old Republic International

In other news, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares of the company's stock, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the chief executive officer now owns 138,222 shares of the company's stock, 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. Insiders sold 43,039 shares of company stock worth $1,580,733 in the last ninety days. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ORI has been the subject of several recent analyst reports. Raymond James set a $42.00 price objective on shares of Old Republic International and gave the company an "outperform" rating in a research note on Monday. Piper Sandler set a $42.00 price target on shares of Old Republic International in a research report on Friday, April 25th. Finally, StockNews.com upgraded Old Republic International from a "hold" rating to a "buy" rating in a research report on Friday, April 25th.

Old Republic International Price Performance

ORI stock opened at $37.56 on Thursday. Old Republic International Co. has a one year low of $29.51 and a one year high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The stock has a market cap of $9.28 billion, a PE ratio of 14.28 and a beta of 0.68. The firm has a 50 day simple moving average of $37.59 and a two-hundred day simple moving average of $36.80.

Old Republic International (NYSE:ORI - Get Free Report) last released its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping 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 company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. The company's revenue was up 11.4% compared to the same quarter last year. On average, 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 disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.29 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.16 annualized dividend and a dividend yield of 3.09%. This is an increase from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's payout ratio is currently 47.15%.

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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