Shelton Capital Management Sells 822 Shares of Old Republic International Co. (NYSE:ORI)

Shelton Capital Management lessened its stake in shares of Old Republic International Co. (NYSE:ORI) by 5.9% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,034 shares of the insurance provider’s stock after selling 822 shares during the quarter. Shelton Capital Management’s holdings in Old Republic International were worth $328,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Stonebridge Capital Advisors LLC grew its holdings in Old Republic International by 130.9% during the fourth quarter. Stonebridge Capital Advisors LLC now owns 1,411 shares of the insurance provider’s stock valued at $34,000 after purchasing an additional 800 shares during the last quarter. Atlas Capital Advisors LLC acquired a new stake in shares of Old Republic International in the second quarter worth $34,000. Denali Advisors LLC boosted its holdings in shares of Old Republic International by 91.2% during the 2nd quarter. Denali Advisors LLC now owns 1,591 shares of the insurance provider’s stock worth $40,000 after buying an additional 759 shares during the period. Belpointe Asset Management LLC grew its stake in Old Republic International by 43.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,676 shares of the insurance provider’s stock valued at $42,000 after buying an additional 510 shares during the last quarter. Finally, Zions Bancorporation N.A. bought a new position in Old Republic International in the 1st quarter worth $59,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on ORI. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Thursday, November 16th. Raymond James raised their target price on Old Republic International from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Monday, October 30th. Finally, Piper Sandler cut their price target on Old Republic International from $31.00 to $30.00 and set a “neutral” rating for the company in a report on Friday, October 27th.

Old Republic International Stock Performance

NYSE:ORI opened at $28.36 on Tuesday. The firm’s 50-day moving average is $27.39 and its 200-day moving average is $26.49. The company has a market cap of $7.95 billion, a price-to-earnings ratio of 9.03 and a beta of 0.79. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.60 and a current ratio of 0.60. Old Republic International Co. has a 52-week low of $23.30 and a 52-week high of $29.89.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.09. The company had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.89 billion. Old Republic International had a return on equity of 12.98% and a net margin of 12.01%. Equities research analysts anticipate that Old Republic International Co. will post 2.76 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were paid a dividend of $0.245 per share. The ex-dividend date of this dividend was Friday, September 1st. This represents a $0.98 dividend on an annualized basis and a yield of 3.46%. This is an increase from Old Republic International’s previous quarterly dividend of $0.24. Old Republic International’s payout ratio is currently 31.21%.

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 the Republic Financial Indemnity Group Run-off Business.