CHURCHILL MANAGEMENT Corp Trims Stock Position in Old Republic International Corporation $ORI

CHURCHILL MANAGEMENT Corp reduced its stake in Old Republic International Corporation (NYSE:ORI) by 2.3% during the 2nd quarter, HoldingsChannel reports. The firm owned 320,694 shares of the insurance provider’s stock after selling 7,533 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Old Republic International were worth $12,327,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC grew its position in Old Republic International by 4,738.8% in the 1st quarter. GAMMA Investing LLC now owns 216,730 shares of the insurance provider’s stock valued at $8,500,000 after buying an additional 212,251 shares during the last quarter. NBC Securities Inc. boosted its holdings in shares of Old Republic International by 107,491.3% in the first quarter. NBC Securities Inc. now owns 24,746 shares of the insurance provider’s stock valued at $970,000 after acquiring an additional 24,723 shares in the last quarter. Merit Financial Group LLC increased its stake in shares of Old Republic International by 336.1% during the first quarter. Merit Financial Group LLC now owns 24,982 shares of the insurance provider’s stock worth $980,000 after acquiring an additional 19,254 shares during the period. Curat Global LLC purchased a new position in Old Republic International during the first quarter worth about $196,000. Finally, Sivia Capital Partners LLC acquired a new stake in Old Republic International in the first quarter valued at about $250,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI opened at $42.76 on Thursday. Old Republic International Corporation has a 12-month low of $33.00 and a 12-month high of $42.87. The stock has a market cap of $10.62 billion, a P/E ratio of 14.64 and a beta of 0.76. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average of $39.16 and a two-hundred day moving average of $38.13.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 earnings per share 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s payout ratio is 39.73%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ORI. Piper Sandler upped their price objective on Old Republic International from $41.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, September 2nd. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their target price for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Wall Street Zen downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat.com, Old Republic International currently has a consensus rating of “Strong Buy” and a consensus price target of $46.00.

Insider Activity

In other news, EVP Stephen J. Oberst sold 4,797 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Therace Risch acquired 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were bought at an average cost of $39.90 per share, for a total transaction of $59,850.00. Following the purchase, the director owned 9,625 shares of the company’s stock, valued at approximately $384,037.50. The trade was a 18.46% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company 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.