United Services Automobile Association Sells 409 Shares of Old Republic International Corporation $ORI

United Services Automobile Association decreased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 2.7% in the 1st quarter, Holdings Channel reports. The fund owned 14,823 shares of the insurance provider’s stock after selling 409 shares during the quarter. United Services Automobile Association’s holdings in Old Republic International were worth $577,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ORI. AQR Capital Management LLC boosted its holdings in Old Republic International by 96.9% during the first quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after purchasing an additional 1,827,180 shares during the last quarter. Nuveen LLC acquired a new position in Old Republic International during the first quarter worth $31,866,000. GW&K Investment Management LLC boosted its holdings in Old Republic International by 44.4% during the first quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock worth $56,322,000 after purchasing an additional 441,799 shares during the last quarter. Royal Bank of Canada boosted its holdings in Old Republic International by 106.4% during the first quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock worth $30,779,000 after purchasing an additional 404,570 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in Old Republic International by 93.8% during the fourth quarter. Millennium Management LLC now owns 823,500 shares of the insurance provider’s stock worth $29,802,000 after purchasing an additional 398,531 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ORI shares. Wall Street Zen cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Piper Sandler increased their target price on shares of Old Republic International from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Old Republic International has an average rating of “Buy” and a consensus price target of $43.50.

Insider Activity

In other news, SVP Carolyn Monroe sold 6,849 shares of the stock in a transaction dated Thursday, July 31st. The shares were sold at an average price of $36.52, for a total value of $250,125.48. Following the transaction, the senior vice president directly owned 35,755 shares of the company’s stock, valued at $1,305,772.60. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Therace Risch acquired 1,500 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was bought at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the completion of the transaction, the director directly owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. This trade represents a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.10% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI stock opened at $40.15 on Wednesday. The stock has a market cap of $9.98 billion, a P/E ratio of 13.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25. The company has a fifty day moving average price of $38.01 and a two-hundred day moving average price of $37.76. Old Republic International Corporation has a one year low of $33.00 and a one year high of $41.15.

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

Old Republic International Announces Dividend

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

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.