Mutual of America Capital Management LLC Sells 10,898 Shares of Old Republic International Co. (NYSE:ORI)

Mutual of America Capital Management LLC cut its holdings in shares of Old Republic International Co. (NYSE:ORI) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 161,451 shares of the insurance provider’s stock after selling 10,898 shares during the period. Mutual of America Capital Management LLC’s holdings in Old Republic International were worth $4,747,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of Old Republic International by 0.4% during the first quarter. BlackRock Inc. now owns 34,182,677 shares of the insurance provider’s stock worth $853,541,000 after acquiring an additional 134,872 shares in the last quarter. State Street Corp increased its position in shares of Old Republic International by 6.6% during the third quarter. State Street Corp now owns 25,907,464 shares of the insurance provider’s stock worth $542,243,000 after acquiring an additional 1,601,571 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Old Republic International by 13.2% during the first quarter. Geode Capital Management LLC now owns 5,311,986 shares of the insurance provider’s stock worth $133,416,000 after acquiring an additional 621,094 shares in the last quarter. Invesco Ltd. increased its position in shares of Old Republic International by 32.9% during the first quarter. Invesco Ltd. now owns 3,741,155 shares of the insurance provider’s stock worth $96,782,000 after acquiring an additional 926,871 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Old Republic International by 16.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,340,821 shares of the insurance provider’s stock worth $86,427,000 after acquiring an additional 465,842 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Insider Activity at Old Republic International

In other Old Republic International news, Director Barbara Adachi purchased 1,925 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were bought at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the purchase, the director now owns 7,845 shares of the company’s stock, valued at approximately $224,367. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Barbara Adachi bought 1,925 shares of the stock in a transaction on Friday, February 16th. The shares were acquired at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the sale, the senior vice president now owns 35,340 shares in the company, valued at $979,271.40. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by corporate insiders.

Old Republic International Stock Down 1.4 %

ORI opened at $28.92 on Tuesday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.25. The stock has a market cap of $7.97 billion, a price-to-earnings ratio of 13.77 and a beta of 0.81. Old Republic International Co. has a twelve month low of $24.03 and a twelve month high of $31.22. The company’s 50-day moving average price is $29.31 and its two-hundred day moving average price is $28.74.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.03). The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. As a group, equities analysts expect that Old Republic International Co. will post 2.7 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were paid a dividend of $0.265 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Friday, March 8th. Old Republic International’s dividend payout ratio is presently 50.48%.

Analyst Upgrades and Downgrades

ORI has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Friday, January 26th.

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.