Old Republic International Co. (NYSE:ORI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Old Republic International Co. (NYSE:ORI) by 23.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,523 shares of the insurance provider’s stock after selling 8,328 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Old Republic International were worth $780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ORI. CWM LLC boosted its position in shares of Old Republic International by 4.5% during the third quarter. CWM LLC now owns 16,205 shares of the insurance provider’s stock worth $437,000 after buying an additional 691 shares during the period. SG Americas Securities LLC boosted its position in shares of Old Republic International by 3.1% during the third quarter. SG Americas Securities LLC now owns 40,200 shares of the insurance provider’s stock worth $1,083,000 after buying an additional 1,216 shares during the period. Measured Wealth Private Client Group LLC boosted its position in shares of Old Republic International by 14.9% during the third quarter. Measured Wealth Private Client Group LLC now owns 31,165 shares of the insurance provider’s stock worth $840,000 after buying an additional 4,037 shares during the period. Oak Thistle LLC acquired a new position in shares of Old Republic International during the third quarter worth approximately $1,017,000. Finally, MBM Wealth Consultants LLC boosted its position in shares of Old Republic International by 4.8% during the third quarter. MBM Wealth Consultants LLC now owns 10,280 shares of the insurance provider’s stock worth $277,000 after buying an additional 467 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ORI. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Piper Sandler boosted their price objective on Old Republic International from $32.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 1st.

Insiders Place Their Bets

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

Old Republic International Stock Performance

ORI opened at $30.30 on Thursday. The company has a market capitalization of $8.35 billion, a price-to-earnings ratio of 14.43 and a beta of 0.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. Old Republic International Co. has a 1-year low of $24.03 and a 1-year high of $31.22. The business has a 50 day moving average price of $29.53 and a two-hundred day moving average price of $28.87.

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

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.50%. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, March 8th. Old Republic International’s dividend payout ratio is 50.48%.

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.