Thrivent Financial for Lutherans Has $170.36 Million Stake in Old Republic International Corporation $ORI

Thrivent Financial for Lutherans increased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 0.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,949,102 shares of the insurance provider’s stock after acquiring an additional 22,496 shares during the period. Thrivent Financial for Lutherans owned 1.60% of Old Republic International worth $170,364,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Vest Financial LLC acquired a new position in shares of Old Republic International during the 3rd quarter valued at about $1,517,000. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Old Republic International by 261.8% during the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,350 shares of the insurance provider’s stock valued at $11,779,000 after acquiring an additional 200,692 shares during the last quarter. Bank of New York Mellon Corp increased 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 valued at $152,279,000 after acquiring an additional 575,778 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Old Republic International by 8.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 708,917 shares of the insurance provider’s stock valued at $30,159,000 after acquiring an additional 57,728 shares during the last quarter. Finally, Stephens Inc. AR increased its holdings in shares of Old Republic International by 1,472.3% during the 3rd quarter. Stephens Inc. AR now owns 189,258 shares of the insurance provider’s stock valued at $8,086,000 after acquiring an additional 177,221 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Stock Performance

ORI opened at $39.15 on Friday. The firm has a market capitalization of $9.51 billion, a P/E ratio of 10.49 and a beta of 0.63. The stock’s 50 day moving average price is $40.28 and its two-hundred day moving average price is $41.98. 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 Corporation has a 12-month low of $35.60 and a 12-month high of $46.76.

Old Republic International (NYSE:ORI) last released its 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 business 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%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the business earned $0.81 EPS. On average, equities analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Shareholders of record on Monday, March 9th were issued a $0.315 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend was Monday, March 9th. This represents a $1.26 dividend on an annualized basis and a yield of 3.2%. Old Republic International’s payout ratio is 33.78%.

Insider Buying and Selling

In other news, Director John Eric Smith acquired 1,135 shares of Old Republic International stock in a transaction on Monday, March 2nd. The stock was bought at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the transaction, the director owned 4,276 shares of the company’s stock, valued at $184,295.60. The trade was a 36.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. This represents a 29.24% decrease in their position. 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. 1.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

Old Republic International 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.