Garner Asset Management Corp Sells 3,001 Shares of Old Republic International Co. (NYSE:ORI)

Garner Asset Management Corp reduced its stake in Old Republic International Co. (NYSE:ORIFree Report) by 9.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,221 shares of the insurance provider’s stock after selling 3,001 shares during the period. Garner Asset Management Corp’s holdings in Old Republic International were worth $745,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ORI. Norges Bank bought a new stake in shares of Old Republic International during the fourth quarter valued at approximately $89,446,000. Northern Trust Corp increased its position in shares of Old Republic International by 13.1% during the third quarter. Northern Trust Corp now owns 2,460,669 shares of the insurance provider’s stock valued at $66,290,000 after acquiring an additional 284,491 shares in the last quarter. Invesco Ltd. increased its position in shares of Old Republic International by 55.2% during the third quarter. Invesco Ltd. now owns 2,263,038 shares of the insurance provider’s stock valued at $60,966,000 after acquiring an additional 804,803 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Old Republic International by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,817,104 shares of the insurance provider’s stock valued at $53,423,000 after acquiring an additional 32,917 shares in the last quarter. Finally, AQR Capital Management LLC increased its position in shares of Old Republic International by 3.3% during the third quarter. AQR Capital Management LLC now owns 1,812,451 shares of the insurance provider’s stock valued at $48,827,000 after acquiring an additional 58,008 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Old Republic International Stock Performance

Shares of NYSE ORI traded down $0.33 during trading on Tuesday, hitting $30.21. The company had a trading volume of 1,303,790 shares, compared to its average volume of 1,659,968. The stock has a 50 day simple moving average of $30.69 and a 200 day simple moving average of $29.68. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. Old Republic International Co. has a 12 month low of $24.17 and a 12 month high of $32.26. The firm has a market capitalization of $8.21 billion, a P/E ratio of 11.75 and a beta of 0.83.

Old Republic International (NYSE:ORIGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.84 billion. Old Republic International had a return on equity of 12.15% and a net margin of 9.52%. As a group, analysts anticipate that Old Republic International Co. will post 2.73 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 Friday, June 14th. Investors of record on Tuesday, June 4th will be paid a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Tuesday, June 4th. Old Republic International’s dividend payout ratio (DPR) is presently 41.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Piper Sandler raised their target price on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a report on Monday, April 1st. StockNews.com upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 26th.

Get Our Latest Stock Report on ORI

Insider Activity at Old Republic International

In other news, Director Therace Risch purchased 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was acquired at an average price of $29.77 per share, for a total transaction of $181,180.22. Following the acquisition, the director now directly owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Carolyn Monroe sold 3,377 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $30.04, for a total transaction of $101,445.08. Following the completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,008,022.24. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Therace Risch acquired 6,086 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were acquired at an average price of $29.77 per share, with a total value of $181,180.22. Following the acquisition, the director now owns 6,086 shares in the company, valued at $181,180.22. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 9,172 shares of company stock valued at $282,286. 0.78% of the stock is owned by company insiders.

Old Republic International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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