Old Republic International Corporation $ORI Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. lessened its stake in shares of Old Republic International Corporation (NYSE:ORI) by 89.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,347 shares of the insurance provider’s stock after selling 68,654 shares during the quarter. SummitTX Capital L.P.’s holdings in Old Republic International were worth $333,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ORI. Bank of New York Mellon Corp boosted its holdings in shares of Old Republic International by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 12,241,253 shares of the insurance provider’s stock valued at $488,426,000 after buying an additional 388,866 shares in the last quarter. AQR Capital Management LLC raised its stake in Old Republic International by 30.7% during the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after acquiring an additional 1,774,807 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Old Republic International by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock valued at $268,202,000 after acquiring an additional 60,395 shares during the last quarter. Geode Capital Management LLC lifted its position in Old Republic International by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock valued at $190,870,000 after acquiring an additional 72,857 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in Old Republic International by 0.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock valued at $170,364,000 after acquiring an additional 22,496 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Activity at Old Republic International

In other Old Republic International news, SVP Jeffrey Lange sold 14,075 shares of the company’s stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president directly owned 12,244 shares of the company’s stock, valued at $535,797.44. This represents a 53.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Stephen J. Oberst sold 13,125 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total value of $576,975.00. Following the sale, the executive vice president directly owned 82,205 shares of the company’s stock, valued at approximately $3,613,731.80. This represents a 13.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 40,530 shares of company stock worth $1,709,568 in the last quarter. Company insiders own 1.32% of the company’s stock.

Old Republic International Trading Down 0.2%

NYSE ORI opened at $43.29 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.68. The firm has a market cap of $10.51 billion, a PE ratio of 10.23 and a beta of 0.58. Old Republic International Corporation has a one year low of $35.60 and a one year high of $46.76. The firm’s fifty day moving average is $40.27 and its two-hundred day moving average is $40.57.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The business had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the company posted $0.81 earnings per share. Old Republic International’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts expect that Old Republic International Corporation will post 2.91 earnings per share for the current year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.9%. The ex-dividend date was Friday, June 5th. Old Republic International’s payout ratio is 29.79%.

Analyst Ratings Changes

ORI has been the topic of several research reports. Piper Sandler dropped their price objective on Old Republic International from $40.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, July 24th. Zacks Research raised Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Finally, Raymond James Financial set a $44.00 target price on Old Republic International in a research report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $41.50.

Old Republic International 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.