Los Angeles Capital Management LLC Lowers Holdings in Old Republic International Corporation $ORI

Los Angeles Capital Management LLC trimmed its position in Old Republic International Corporation (NYSE:ORI) by 40.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 82,724 shares of the insurance provider’s stock after selling 56,997 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Old Republic International were worth $3,776,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ORI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Old Republic International by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock worth $477,000 after buying an additional 2,867 shares during the period. NewEdge Advisors LLC lifted its holdings in shares of Old Republic International by 121.9% in the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock worth $944,000 after buying an additional 13,224 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Old Republic International by 122.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after buying an additional 2,493 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Old Republic International by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock worth $62,480,000 after buying an additional 148,891 shares during the period. Finally, Sivia Capital Partners LLC lifted its holdings in shares of Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock worth $323,000 after buying an additional 2,028 shares during the period. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the company’s 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 directly 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 sale was disclosed in a filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 1.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ORI has been the subject of several research reports. Piper Sandler upped 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. Raymond James Financial set a $44.00 target price on Old Republic International in a report on Monday, April 27th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, March 27th. One research 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 given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Old Republic International Trading Up 0.8%

ORI opened at $37.86 on Wednesday. The firm has a market cap of $9.19 billion, a price-to-earnings ratio of 10.15 and a beta of 0.59. The company has a current ratio of 0.23, a quick 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. The stock has a fifty day moving average price of $39.72 and a 200-day moving average price of $41.60.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.The company’s revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.81 earnings per share. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be given a $0.315 dividend. This represents a $1.26 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend is Friday, June 5th. Old Republic International’s payout ratio is presently 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.