Old Republic International Corporation $ORI Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its position in shares of Old Republic International Corporation (NYSE:ORI) by 18.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 391,844 shares of the insurance provider’s stock after selling 87,718 shares during the quarter. Legal & General Group Plc’s holdings in Old Republic International were worth $17,884,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Old Republic International by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock worth $1,081,745,000 after purchasing an additional 123,954 shares during the last quarter. AQR Capital Management LLC increased its position in Old Republic International by 30.7% during the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after buying an additional 1,774,807 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Old Republic International by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock worth $285,268,000 after buying an additional 116,549 shares in the last quarter. Thrivent Financial for Lutherans increased its position in Old Republic International by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock worth $170,364,000 after buying an additional 22,496 shares in the last quarter. Finally, Captrust Financial Advisors increased its position in Old Republic International by 98.0% during the third quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock worth $135,799,000 after buying an additional 1,582,895 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Old Republic International

In other news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. The trade was a 29.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is currently owned by corporate insiders.

Old Republic International Price Performance

Shares of NYSE:ORI opened at $36.72 on Tuesday. The company has a market cap of $8.92 billion, a P/E ratio of 9.85 and a beta of 0.60. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The business has a fifty day simple moving average of $39.90 and a 200-day simple moving average of $41.87.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. Old Republic International’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.81 EPS. Equities research analysts forecast that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a $0.315 dividend. The ex-dividend date of this dividend is Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.4%. Old Republic International’s payout ratio is currently 33.78%.

Analyst Ratings Changes

Several equities analysts have weighed in on ORI shares. Raymond James Financial set a $44.00 price target on Old Republic International in a research report on Monday, April 27th. Piper Sandler raised their price target on Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Old Republic International presently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.