Camelot Portfolios LLC Reduces Position in Old Republic International Corporation $ORI

Camelot Portfolios LLC trimmed its stake in Old Republic International Corporation (NYSE:ORI) by 7.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,338 shares of the insurance provider’s stock after selling 635 shares during the period. Camelot Portfolios LLC’s holdings in Old Republic International were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Hamlin Capital Management LLC grew its position in shares of Old Republic International by 1.6% in the 1st quarter. Hamlin Capital Management LLC now owns 5,191,308 shares of the insurance provider’s stock valued at $203,603,000 after buying an additional 79,796 shares during the last quarter. AQR Capital Management LLC grew its position in Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Northern Trust Corp grew its position in Old Republic International by 11.8% during the 1st quarter. Northern Trust Corp now owns 3,551,918 shares of the insurance provider’s stock worth $139,306,000 after purchasing an additional 375,916 shares during the last quarter. Bank of New York Mellon Corp grew its position in Old Republic International by 3.6% during the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock worth $114,453,000 after purchasing an additional 100,264 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in shares of Old Republic International by 7.3% in the 1st quarter. Invesco Ltd. now owns 2,521,439 shares of the insurance provider’s stock worth $98,891,000 after acquiring an additional 171,497 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ORI. Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $43.00 to $47.00 in a research note on Monday, September 22nd. Finally, Piper Sandler raised their price objective on shares of Old Republic International from $41.00 to $45.00 and gave the company an “overweight” rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Strong Buy” and a consensus price target of $46.00.

Old Republic International Price Performance

Shares of ORI stock opened at $41.97 on Friday. The company has a market capitalization of $10.43 billion, a PE ratio of 14.37 and a beta of 0.78. The firm has a fifty day simple moving average of $38.81 and a 200-day simple moving average of $38.03. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $42.03.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. The firm’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities research analysts anticipate that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Friday, September 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is 39.73%.

Insiders Place Their Bets

In other Old Republic International news, Director Therace Risch bought 1,500 shares of the company’s stock in a transaction on Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, with a total value of $59,850.00. Following the completion of the acquisition, the director owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the completion of the sale, the senior vice president directly owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate 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.