Hennion & Walsh Asset Management Inc. Sells 6,154 Shares of Old Republic International Co. (NYSE:ORI)

Hennion & Walsh Asset Management Inc. trimmed its stake in Old Republic International Co. (NYSE:ORI) by 7.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,762 shares of the insurance provider’s stock after selling 6,154 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Old Republic International were worth $2,754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in Old Republic International by 555.6% in the second quarter. Versant Capital Management Inc now owns 885 shares of the insurance provider’s stock worth $27,000 after buying an additional 750 shares during the last quarter. Mather Group LLC. raised its stake in shares of Old Republic International by 201.0% in the second quarter. Mather Group LLC. now owns 894 shares of the insurance provider’s stock valued at $27,000 after acquiring an additional 597 shares during the period. Innealta Capital LLC bought a new stake in shares of Old Republic International in the 2nd quarter worth about $30,000. V Square Quantitative Management LLC purchased a new position in shares of Old Republic International during the 3rd quarter worth about $31,000. Finally, Covestor Ltd grew its holdings in Old Republic International by 23.0% during the 1st quarter. Covestor Ltd now owns 1,937 shares of the insurance provider’s stock valued at $59,000 after purchasing an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $34.92 on Friday. Old Republic International Co. has a 52 week low of $26.76 and a 52 week high of $36.50. The company has a market capitalization of $9.03 billion, a PE ratio of 14.67 and a beta of 0.84. The stock’s fifty day moving average is $35.36 and its two-hundred day moving average is $32.70. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.33.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.15. Old Republic International had a net margin of 8.59% and a return on equity of 12.57%. The firm had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, analysts expect that Old Republic International Co. will post 2.83 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently announced an annual dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, September 6th were given a dividend of $1.06 per share. This represents a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, September 6th. Old Republic International’s dividend payout ratio (DPR) is presently 44.54%.

Analysts Set New Price Targets

Separately, Piper Sandler raised their price objective on shares of Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday.

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.