Bank of Montreal Can Sells 2,549 Shares of Old Republic International Corporation $ORI

Bank of Montreal Can trimmed its position in Old Republic International Corporation (NYSE:ORI) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 39,158 shares of the insurance provider’s stock after selling 2,549 shares during the period. Bank of Montreal Can’s holdings in Old Republic International were worth $1,505,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ORI. AQR Capital Management LLC raised its position in shares of Old Republic International by 96.9% in the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after buying an additional 1,827,180 shares in the last quarter. Nuveen LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at about $31,866,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Old Republic International during the second quarter worth about $19,299,000. GW&K Investment Management LLC increased its position in shares of Old Republic International by 44.4% in the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock worth $56,322,000 after purchasing an additional 441,799 shares during the last quarter. Finally, Royal Bank of Canada raised its stake in Old Republic International by 106.4% in the first quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock valued at $30,779,000 after purchasing an additional 404,570 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Therace Risch acquired 1,500 shares of the stock in a transaction on Tuesday, September 2nd. The stock was purchased at an average price of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director owned 9,625 shares of the company’s stock, valued at $384,037.50. This trade represents a 18.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the completion of the transaction, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price target for the stock from $43.00 to $47.00 in a research note on Monday, September 22nd. Piper Sandler dropped their price objective on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Strong Buy” and an average price target of $46.50.

Old Republic International Stock Performance

Old Republic International stock opened at $43.46 on Friday. The firm has a fifty day simple moving average of $41.27 and a two-hundred day simple moving average of $38.98. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00. The company has a market capitalization of $10.76 billion, a PE ratio of 14.54 and a beta of 0.79.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.28 billion. Research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

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.