Knightsbridge Asset Management LLC Has $2.55 Million Stock Holdings in Old Republic International Corporation $ORI

Knightsbridge Asset Management LLC cut its position in shares of Old Republic International Corporation (NYSE:ORI) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,934 shares of the insurance provider’s stock after selling 5,439 shares during the period. Knightsbridge Asset Management LLC’s holdings in Old Republic International were worth $2,547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Old Republic International by 4.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 590,079 shares of the insurance provider’s stock worth $23,143,000 after purchasing an additional 23,775 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Old Republic International by 304.7% in the 1st quarter. Farther Finance Advisors LLC now owns 15,319 shares of the insurance provider’s stock valued at $607,000 after buying an additional 11,534 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Old Republic International by 4,738.8% during the first quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider’s stock worth $8,500,000 after purchasing an additional 212,251 shares during the period. Bank of New York Mellon Corp boosted its stake in Old Republic International by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 2,918,236 shares of the insurance provider’s stock valued at $114,453,000 after purchasing an additional 100,264 shares during the period. Finally, Merit Financial Group LLC grew its holdings in Old Republic International by 336.1% in the 1st quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider’s stock valued at $980,000 after buying an additional 19,254 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $36.52, for a total transaction of $250,125.48. Following the sale, the senior vice president owned 35,755 shares in the company, valued at approximately $1,305,772.60. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the completion of the sale, the executive vice president directly owned 54,661 shares in the company, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Old Republic International Stock Performance

Shares of NYSE:ORI opened at $40.41 on Friday. The company’s 50 day moving average price is $37.94 and its two-hundred day moving average price is $37.70. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $41.15. The firm has a market cap of $10.04 billion, a PE ratio of 13.84 and a beta of 0.78. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.26.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, July 24th. The insurance provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. Old Republic International had a net margin of 10.31% and a return on equity of 20.95%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. The company’s revenue was up 10.1% on a year-over-year basis. Equities research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International’s dividend payout ratio is presently 39.73%.

Wall Street Analyst Weigh In

ORI has been the topic of a number of research reports. Piper Sandler upped their price objective on Old Republic International from $41.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $43.50.

About Old Republic International

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.