Hamlin Capital Management LLC Reduces Stake in Old Republic International Corporation $ORI

Hamlin Capital Management LLC trimmed its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 1.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 4,599,066 shares of the insurance provider’s stock after selling 65,979 shares during the quarter. Old Republic International accounts for approximately 4.2% of Hamlin Capital Management LLC’s holdings, making the stock its 10th biggest holding. Hamlin Capital Management LLC’s holdings in Old Republic International were worth $171,591,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Bank of New York Mellon Corp acquired a new stake in Old Republic International in the second quarter valued at approximately $491,660,000. Public Employees Retirement System of Ohio acquired a new position in shares of Old Republic International during the second quarter worth $2,855,000. Squarepoint Ops LLC lifted its holdings in shares of Old Republic International by 574.7% during the 2nd quarter. Squarepoint Ops LLC now owns 107,899 shares of the insurance provider’s stock valued at $4,415,000 after purchasing an additional 91,908 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Old Republic International in the 2nd quarter worth $1,232,000. Finally, Forty three Eighteen Advisors LLC purchased a new position in Old Republic International during the 4th quarter worth $2,126,000. Institutional investors own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of several recent analyst reports. Weiss Ratings lowered Old Republic International from a “buy (b+)” rating to a “buy (b)” rating in a research report on Friday, September 18th. Piper Sandler cut their price objective 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. 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 analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.50.

Old Republic International Stock Performance

Shares of NYSE ORI traded up $0.81 during mid-day trading on Thursday, hitting $38.52. The stock had a trading volume of 352,710 shares, compared to its average volume of 1,598,913. The firm has a market cap of $9.30 billion, a PE ratio of 9.10 and a beta of 0.56. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.30 and a current ratio of 0.30. The company has a 50 day moving average of $41.01 and a two-hundred day moving average of $40.45. Old Republic International Corporation has a twelve month low of $36.65 and a twelve month high of $46.76.

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

Old Republic International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Friday, September 4th were issued a $0.3150 dividend. This represents a $1.26 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, September 4th. Old Republic International’s dividend payout ratio is 29.79%.

Insiders Place Their Bets

In other Old Republic International news, SVP Jeffrey Lange sold 14,075 shares of Old Republic International stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president directly owned 12,244 shares in the company, valued at approximately $535,797.44. The trade was a 53.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Stephen Oberst sold 13,125 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the completion of the sale, the executive vice president directly owned 82,205 shares in the company, valued at $3,613,731.80. This trade represents a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 33,374 shares of company stock valued at $1,452,714. 1.32% of the stock is owned by insiders.

Old Republic International Company Profile

Old Republic International Corporation (NYSE: ORI) is an insurance holding company headquartered in Chicago, Illinois. Founded in 1887, the company operates through subsidiaries that provide insurance products and related services to businesses, individuals, and financial institutions.

Old Republic’s general insurance operations offer commercial property and casualty coverage, including workers’ compensation, commercial automobile, general liability, property, transportation, construction, and specialized industry insurance.