Genus Capital Management Inc. Trims Stock Position in Old Republic International Corporation $ORI

Genus Capital Management Inc. cut its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 42.3% in the fourth quarter, HoldingsChannel.com reports. The firm owned 28,900 shares of the insurance provider’s stock after selling 21,200 shares during the quarter. Genus Capital Management Inc.’s holdings in Old Republic International were worth $1,319,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Old Republic International by 0.5% during the 3rd 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 period. AQR Capital Management LLC grew its holdings in shares of Old Republic International by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after purchasing an additional 1,774,807 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Old Republic International by 1.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock worth $285,268,000 after purchasing an additional 116,549 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of Old Republic International by 0.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock worth $170,364,000 after purchasing an additional 22,496 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in shares of Old Republic International by 19.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock worth $152,279,000 after purchasing an additional 575,778 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Price Performance

ORI stock opened at $39.35 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. The firm has a market capitalization of $9.55 billion, a P/E ratio of 10.55 and a beta of 0.63. The business’s 50-day moving average is $40.07 and its two-hundred day moving average is $41.98. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates 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 business earned $0.81 EPS. Analysts anticipate that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders 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 yield of 3.2%. Old Republic International’s dividend payout ratio (DPR) is currently 33.78%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This trade represents a 29.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith purchased 1,135 shares of Old Republic International stock in a transaction on Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director directly owned 4,276 shares in the company, valued at $184,295.60. This represents a 36.13% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 1.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.