Nordea Investment Management AB Reduces Stock Holdings in Old Republic International Corporation $ORI

Nordea Investment Management AB reduced its position in shares of Old Republic International Corporation (NYSE:ORI) by 12.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 426,052 shares of the insurance provider’s stock after selling 61,607 shares during the quarter. Nordea Investment Management AB’s holdings in Old Republic International were worth $19,603,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ORI. Cyndeo Wealth Partners LLC grew its stake in shares of Old Republic International by 3.0% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 220,721 shares of the insurance provider’s stock valued at $10,074,000 after buying an additional 6,435 shares during the period. Sagespring Wealth Partners LLC raised its position in shares of Old Republic International by 36.9% during the 4th quarter. Sagespring Wealth Partners LLC now owns 10,711 shares of the insurance provider’s stock valued at $489,000 after buying an additional 2,885 shares during the period. Everhart Financial Group Inc. lifted its holdings in Old Republic International by 4.7% in the fourth quarter. Everhart Financial Group Inc. now owns 24,994 shares of the insurance provider’s stock valued at $1,141,000 after acquiring an additional 1,116 shares during the last quarter. RDA Financial Network acquired a new position in Old Republic International in the fourth quarter valued at approximately $246,000. Finally, GAMMA Investing LLC grew its position in Old Republic International by 21.1% in the fourth quarter. GAMMA Investing LLC now owns 7,761 shares of the insurance provider’s stock worth $354,000 after acquiring an additional 1,353 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Stock Performance

Shares of ORI stock opened at $39.17 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market cap of $9.62 billion, a P/E ratio of 11.55 and a beta of 0.73. The firm’s 50 day moving average price is $41.06 and its 200-day moving average price is $42.27. Old Republic International Corporation has a one year low of $34.43 and a one year high of $46.76.

Old Republic International (NYSE:ORI) last posted its earnings results 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 net margin of 10.24% and a return on equity of 16.21%. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Monday, March 9th were given a dividend of $0.315 per share. This is an increase from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Monday, March 9th. Old Republic International’s dividend payout ratio (DPR) is 37.17%.

Wall Street Analyst Weigh In

ORI has been the subject of several recent analyst reports. Piper Sandler reissued a “neutral” rating and set a $38.00 target price (down from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Weiss Ratings raised Old Republic International from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Friday, March 13th. Finally, Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.50.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Eric Smith acquired 1,135 shares of Old Republic International stock in a transaction dated 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 completion of the purchase, the director owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This represents a 36.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

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.