Hsbc Holdings PLC Lowers Holdings in Old Republic International Corporation $ORI

Hsbc Holdings PLC lowered its stake in shares of Old Republic International Corporation (NYSE:ORI) by 83.6% in the fourth quarter, HoldingsChannel reports. The fund owned 14,451 shares of the insurance provider’s stock after selling 73,621 shares during the quarter. Hsbc Holdings PLC’s holdings in Old Republic International were worth $623,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC purchased a new stake in Old Republic International in the fourth quarter valued at approximately $26,000. Torren Management LLC purchased a new position in Old Republic International during the fourth quarter worth approximately $27,000. Commonwealth Retirement Investments LLC purchased a new stake in shares of Old Republic International during the 4th quarter valued at $27,000. JPL Wealth Management LLC purchased a new stake in shares of Old Republic International during the 3rd quarter valued at $27,000. Finally, Quest 10 Wealth Builders Inc. acquired a new stake in shares of Old Republic International during the 4th quarter worth $31,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of Old Republic International 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 completion of the transaction, the senior vice president directly owned 32,261 shares in the company, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.32% of the company’s stock.

Old Republic International Price Performance

ORI stock opened at $40.30 on Thursday. The stock’s 50 day moving average is $39.49 and its two-hundred day moving average is $40.69. Old Republic International Corporation has a 52-week low of $35.60 and a 52-week high of $46.76. The company has a market capitalization of $9.79 billion, a PE ratio of 10.80 and a beta of 0.58. 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 (NYSE:ORI) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.81 EPS. Analysts predict 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 announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Friday, June 5th. Old Republic International’s dividend payout ratio is 33.78%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Raymond James Financial set a $44.00 target price on Old Republic International in a research report on Monday, April 27th. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a research note on Wednesday, July 8th. Finally, Piper Sandler boosted their target price 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 and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average 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.