Citigroup Inc. Has $4.27 Million Holdings in Old Republic International Co. (NYSE:ORI)

Citigroup Inc. cut its holdings in Old Republic International Co. (NYSE:ORI – Get Rating) by 8.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 176,641 shares of the insurance provider’s stock after selling 15,588 shares during the period. Citigroup Inc. owned about 0.06% of Old Republic International worth $4,266,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ORI. American Century Companies Inc. grew its stake in shares of Old Republic International by 58.9% in the first quarter. American Century Companies Inc. now owns 56,825 shares of the insurance provider’s stock valued at $1,471,000 after buying an additional 21,064 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Old Republic International by 31.1% in the first quarter. HighTower Advisors LLC now owns 17,253 shares of the insurance provider’s stock valued at $448,000 after buying an additional 4,088 shares in the last quarter. Natixis Advisors L.P. grew its stake in shares of Old Republic International by 21.5% in the first quarter. Natixis Advisors L.P. now owns 22,153 shares of the insurance provider’s stock valued at $573,000 after buying an additional 3,918 shares in the last quarter. D.A. Davidson & CO. bought a new position in shares of Old Republic International in the first quarter valued at $296,000. Finally, Panagora Asset Management Inc. grew its stake in shares of Old Republic International by 2.3% in the first quarter. Panagora Asset Management Inc. now owns 21,388 shares of the insurance provider’s stock valued at $553,000 after buying an additional 484 shares in the last quarter. 70.87% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on ORI. Piper Sandler began coverage on shares of Old Republic International in a research report on Wednesday. They set a “neutral” rating and a $27.00 price objective for the company. Raymond James lifted their price objective on shares of Old Republic International from $27.00 to $29.00 and gave the stock an “outperform” rating in a research report on Monday, January 30th. Finally, StockNews.com began coverage on shares of Old Republic International in a research report on Thursday. They set a “buy” rating for the company.

Old Republic International Trading Down 0.6 %

Shares of Old Republic International stock opened at $25.44 on Friday. The firm has a 50-day moving average of $24.93 and a 200-day moving average of $24.80. The stock has a market cap of $7.45 billion, a PE ratio of 12.91 and a beta of 0.80. Old Republic International Co. has a 52-week low of $20.27 and a 52-week high of $26.72. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.55 and a current ratio of 0.55.

Old Republic International Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, June 5th will be given a $0.244 dividend. The ex-dividend date is Friday, June 2nd. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.84%. Old Republic International’s payout ratio is presently 49.75%.

Old Republic International Profile

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Old Republic International Corp. is a holding company, which engages in the business of insurance underwriting. It operates through the following segments: General Insurance, Title Insurance, Republic Financial Indemnity Group (RFIG) Run-Off, and Corporate and Other. The General Insurance segment provides property and liability insurance primarily to commercial clients.