Hsbc Holdings PLC Sells 36,684 Shares of Old Republic International Corporation $ORI

Hsbc Holdings PLC lessened its position in Old Republic International Corporation (NYSE:ORI) by 19.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 149,328 shares of the insurance provider’s stock after selling 36,684 shares during the period. Hsbc Holdings PLC owned about 0.06% of Old Republic International worth $5,726,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Grantham Mayo Van Otterloo & Co. LLC lifted its position in Old Republic International by 423.3% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 125,785 shares of the insurance provider’s stock valued at $4,835,000 after acquiring an additional 101,749 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Old Republic International by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 240,078 shares of the insurance provider’s stock worth $9,229,000 after purchasing an additional 1,030 shares during the last quarter. Employees Retirement System of Texas purchased a new stake in shares of Old Republic International during the second quarter valued at $76,000. Choreo LLC increased its holdings in Old Republic International by 14.2% in the 2nd quarter. Choreo LLC now owns 41,310 shares of the insurance provider’s stock worth $1,588,000 after buying an additional 5,125 shares in the last quarter. Finally, Correct Capital Wealth Management raised its position in Old Republic International by 3.9% in the 2nd quarter. Correct Capital Wealth Management now owns 40,460 shares of the insurance provider’s stock worth $1,555,000 after buying an additional 1,514 shares during the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

ORI opened at $43.64 on Friday. The company’s 50 day moving average is $42.72 and its 200 day moving average is $39.73. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 0.25. The company has a market cap of $10.80 billion, a price-to-earnings ratio of 14.59 and a beta of 0.77. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $46.63.

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

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, December 5th will be given a $0.29 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.7%. Old Republic International’s dividend payout ratio is presently 38.80%.

Insider Activity

In related news, Director Therace Risch acquired 1,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were purchased at an average cost of $39.14 per share, with a total value of $39,140.00. Following the transaction, the director directly owned 10,625 shares in the company, valued at approximately $415,862.50. This represents a 10.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $44.54, for a total value of $297,527.20. Following the transaction, the senior vice president owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Old Republic International 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.