Old Republic International Corporation $ORI Holdings Decreased by ProShare Advisors LLC

ProShare Advisors LLC reduced its stake in shares of Old Republic International Corporation (NYSE:ORI) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 789,305 shares of the insurance provider’s stock after selling 190,998 shares during the quarter. ProShare Advisors LLC’s holdings in Old Republic International were worth $36,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB raised its stake in shares of Old Republic International by 28.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 1,013 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 222 shares in the last quarter. Signet Financial Management LLC raised its stake in shares of Old Republic International by 2.5% during the fourth quarter. Signet Financial Management LLC now owns 10,951 shares of the insurance provider’s stock valued at $500,000 after purchasing an additional 263 shares in the last quarter. waypoint wealth counsel raised its stake in shares of Old Republic International by 3.3% during the fourth quarter. waypoint wealth counsel now owns 8,402 shares of the insurance provider’s stock valued at $383,000 after purchasing an additional 265 shares in the last quarter. Clearstead Trust LLC raised its stake in shares of Old Republic International by 65.6% during the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 288 shares in the last quarter. Finally, Mainsail Asset Management LLC raised its position in Old Republic International by 5.9% in the fourth quarter. Mainsail Asset Management LLC now owns 5,389 shares of the insurance provider’s stock worth $246,000 after acquiring an additional 300 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity

In other Old Republic International 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 transaction of $516,670.80. Following the transaction, the senior vice president owned 32,261 shares of the company’s stock, valued at $1,250,436.36. The trade was a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith bought 1,135 shares of the stock in a transaction on Monday, March 2nd. The shares were acquired at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the purchase, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.32% of the company’s stock.

Old Republic International Trading Down 1.3%

NYSE:ORI opened at $39.55 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.23 and a quick ratio of 0.23. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76. The stock’s 50-day moving average is $40.13 and its two-hundred day moving average is $41.98. The stock has a market cap of $9.60 billion, a PE ratio of 10.60 and a beta of 0.63.

Old Republic International (NYSE:ORI) last released its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.39 billion. During the same period last year, the firm earned $0.81 EPS. The company’s revenue was up 6.7% compared to the same quarter last year. As a group, equities research analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be paid a dividend of $0.315 per share. This represents a $1.26 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, June 5th. Old Republic International’s payout ratio is 33.78%.

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.