Victory Capital Management Inc. Sells 1,674,658 Shares of Old Republic International Corporation $ORI

Victory Capital Management Inc. cut its stake in shares of Old Republic International Corporation (NYSE:ORI) by 16.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,502,828 shares of the insurance provider’s stock after selling 1,674,658 shares during the quarter. Victory Capital Management Inc. owned approximately 3.44% of Old Republic International worth $361,115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ORI. Clearstead Trust LLC boosted its position in shares of Old Republic International by 65.6% in the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock worth $31,000 after purchasing an additional 288 shares during the period. Core Alternative Capital purchased a new position in shares of Old Republic International during the 3rd quarter valued at $42,000. Caldwell Trust Co lifted its stake in shares of Old Republic International by 75.0% during the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock valued at $45,000 after buying an additional 450 shares in the last quarter. Headlands Technologies LLC bought a new position in Old Republic International in the 2nd quarter worth $46,000. Finally, SBI Securities Co. Ltd. increased its stake in Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after buying an additional 274 shares in the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the transaction, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by corporate insiders.

Old Republic International Stock Up 0.5%

Shares of NYSE ORI opened at $43.07 on Tuesday. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12-month low of $34.43 and a 12-month high of $46.76. The firm’s 50-day moving average price is $42.43 and its 200-day moving average price is $42.21. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 12.71 and a beta of 0.73.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period in the prior year, the firm earned $0.90 EPS. On average, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a $0.315 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Monday, March 9th. Old Republic International’s dividend payout ratio is 34.22%.

Analyst Ratings Changes

Several brokerages have recently commented on ORI. Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Finally, Weiss Ratings downgraded Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Old Republic International presently has an average rating of “Moderate Buy” and a consensus target price of $42.50.

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.