Miller Howard Investments Inc. NY Has $66.19 Million Stake in Old Republic International Corporation $ORI

Miller Howard Investments Inc. NY lowered its position in shares of Old Republic International Corporation (NYSE:ORI) by 16.9% during the first quarter, HoldingsChannel reports. The fund owned 1,658,950 shares of the insurance provider’s stock after selling 337,275 shares during the quarter. Old Republic International comprises about 1.8% of Miller Howard Investments Inc. NY’s portfolio, making the stock its 13th largest holding. Miller Howard Investments Inc. NY’s holdings in Old Republic International were worth $66,192,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Old Republic International by 230.6% in the fourth quarter. Bank of New York Mellon Corp now owns 11,852,387 shares of the insurance provider’s stock valued at $540,943,000 after purchasing an additional 8,266,829 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Old Republic International during the fourth quarter worth about $155,960,000. Norges Bank bought a new stake in shares of Old Republic International during the fourth quarter worth about $134,633,000. AQR Capital Management LLC increased its stake in shares of Old Republic International by 55.7% in the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after buying an additional 2,066,965 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Old Republic International by 98.0% in the third quarter. Captrust Financial Advisors now owns 3,197,538 shares of the insurance provider’s stock valued at $135,799,000 after buying an additional 1,582,895 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Activity

In other news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president directly owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ORI shares. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 29th. 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. Piper Sandler raised their price target on shares of Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Raymond James Financial set a $44.00 price target on shares of Old Republic International in a research note on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Old Republic International has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Old Republic International Trading Up 2.0%

NYSE ORI opened at $39.86 on Wednesday. The firm has a market capitalization of $9.68 billion, a PE ratio of 10.69 and a beta of 0.59. The business’s 50-day moving average price is $39.38 and its two-hundred day moving average price is $41.12. 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.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data 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 company had revenue of $2.40 billion for 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%.Old Republic International’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.81 earnings per share. On average, analysts expect that Old Republic International Corporation will post 2.95 EPS for the current year.

Old Republic International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were given a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.2%. 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.