Old Republic International Co. (NYSE:ORI) Shares Sold by Interval Partners LP

Interval Partners LP reduced its position in shares of Old Republic International Co. (NYSE:ORI) by 39.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 216,253 shares of the insurance provider’s stock after selling 140,793 shares during the period. Interval Partners LP’s holdings in Old Republic International were worth $7,826,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ORI. Norges Bank acquired a new stake in Old Republic International during the 4th quarter worth about $105,581,000. Raymond James Financial Inc. purchased a new stake in shares of Old Republic International in the 4th quarter valued at approximately $67,054,000. Invesco Ltd. lifted its position in shares of Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider’s stock valued at $85,044,000 after acquiring an additional 490,788 shares in the last quarter. Northern Trust Corp boosted its stake in Old Republic International by 14.4% in the 4th quarter. Northern Trust Corp now owns 3,176,002 shares of the insurance provider’s stock worth $114,940,000 after purchasing an additional 400,384 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in Old Republic International by 1,424.1% during the 4th quarter. Cubist Systematic Strategies LLC now owns 269,848 shares of the insurance provider’s stock worth $9,766,000 after purchasing an additional 252,143 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on ORI shares. Raymond James set a $42.00 target price on Old Republic International and gave the stock an “outperform” rating in a research report on Monday, April 28th. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Finally, Piper Sandler set a $42.00 target price on Old Republic International in a report on Friday, April 25th.

Old Republic International Price Performance

ORI opened at $37.89 on Monday. The stock has a fifty day moving average price of $37.63 and a 200 day moving average price of $36.91. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 1 year low of $29.51 and a 1 year high of $39.84. The stock has a market cap of $9.37 billion, a price-to-earnings ratio of 14.41 and a beta of 0.74.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion during the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Old Republic International’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts forecast that Old Republic International Co. will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were paid a $0.29 dividend. The ex-dividend date of this dividend was Monday, March 10th. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a yield of 3.06%. Old Republic International’s payout ratio is 47.15%.

Insiders Place Their Bets

In other news, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the sale, the vice president now owns 46,556 shares in the company, valued at approximately $1,699,294. This represents a 37.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carolyn Monroe sold 10,601 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now directly owns 35,755 shares in the company, valued at approximately $1,336,521.90. This represents a 22.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,354 shares of company stock valued at $1,602,871 over the last ninety days. Corporate 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.