UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 35,612 Shares of Old Republic International Corporation $ORI

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Old Republic International Corporation (NYSE:ORI) by 5.1% in the second quarter, Holdings Channel.com reports. The institutional investor owned 659,013 shares of the insurance provider’s stock after selling 35,612 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Old Republic International were worth $26,967,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB lifted its holdings in Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock worth $43,000 after acquiring an additional 222 shares in the last quarter. Aptus Capital Advisors LLC raised its position in shares of Old Republic International by 5.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 5,421 shares of the insurance provider’s stock worth $247,000 after purchasing an additional 257 shares during the period. Waverly Advisors LLC raised its position in shares of Old Republic International by 2.3% during the first quarter. Waverly Advisors LLC now owns 12,760 shares of the insurance provider’s stock worth $509,000 after purchasing an additional 288 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Old Republic International by 1.1% during the 1st quarter. Pacer Advisors Inc. now owns 27,033 shares of the insurance provider’s stock valued at $1,079,000 after purchasing an additional 293 shares in the last quarter. Finally, Mainsail Asset Management LLC lifted its holdings in shares of Old Republic International by 5.9% during the 4th quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock valued at $246,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Activity

In other news, SVP Carolyn Monroe sold 4,386 shares of the stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $42.01, for a total transaction of $184,255.86. Following the completion of the transaction, the senior vice president directly owned 27,875 shares in the company, valued at $1,171,028.75. This represents a 13.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jeffrey Lange sold 14,075 shares of the business’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total value of $615,922.00. Following the transaction, the senior vice president directly owned 12,244 shares in the company, valued at $535,797.44. This trade represents a 53.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 33,374 shares of company stock worth $1,452,714 over the last ninety days. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ORI shares. Piper Sandler dropped their target price on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. Finally, Zacks Research raised shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $41.50.

Old Republic International Stock Up 1.3%

ORI stock opened at $42.64 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market capitalization of $10.29 billion, a P/E ratio of 10.08 and a beta of 0.57. Old Republic International Corporation has a fifty-two week low of $36.65 and a fifty-two week high of $46.76. The business has a 50-day moving average of $42.21 and a 200-day moving average of $40.78.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. On average, sell-side analysts anticipate that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, September 4th. Old Republic International’s dividend payout ratio (DPR) is currently 29.79%.

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. 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.