Swiss National Bank Sells 78,500 Shares of Old Republic International Co. (NYSE:ORI)

Swiss National Bank decreased its position in shares of Old Republic International Co. (NYSE:ORI) by 12.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 532,900 shares of the insurance provider’s stock after selling 78,500 shares during the quarter. Swiss National Bank’s holdings in Old Republic International were worth $15,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Avantax Planning Partners Inc. increased its position in shares of Old Republic International by 5.0% during the third quarter. Avantax Planning Partners Inc. now owns 9,688 shares of the insurance provider’s stock worth $261,000 after buying an additional 463 shares during the period. Fifth Third Bancorp grew its holdings in Old Republic International by 26.6% during the 3rd quarter. Fifth Third Bancorp now owns 2,277 shares of the insurance provider’s stock worth $61,000 after acquiring an additional 479 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in Old Republic International by 13.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 4,210 shares of the insurance provider’s stock worth $113,000 after acquiring an additional 500 shares during the period. Moors & Cabot Inc. raised its position in shares of Old Republic International by 2.4% in the 3rd quarter. Moors & Cabot Inc. now owns 21,030 shares of the insurance provider’s stock worth $567,000 after acquiring an additional 500 shares in the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Old Republic International by 62.7% in the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 526 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

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

Old Republic International Price Performance

ORI stock opened at $31.19 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. The company’s 50-day moving average is $29.92 and its 200-day moving average is $29.12. The stock has a market capitalization of $8.48 billion, a PE ratio of 12.14 and a beta of 0.81. Old Republic International Co. has a 1 year low of $24.17 and a 1 year high of $31.32.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Monday, March 11th were paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date was Friday, March 8th. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s dividend payout ratio (DPR) is 41.25%.

Insider Activity

In other news, Director Therace Risch bought 6,086 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average cost of $29.77 per share, for a total transaction of $181,180.22. Following the acquisition, the director now directly owns 6,086 shares in the company, valued at $181,180.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Therace Risch acquired 6,086 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was purchased at an average cost of $29.77 per share, with a total value of $181,180.22. Following the acquisition, the director now owns 6,086 shares of the company’s stock, valued at approximately $181,180.22. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Barbara Adachi acquired 1,925 shares of the stock in a transaction dated Friday, February 16th. The stock was bought at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the purchase, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. Corporate insiders own 1.00% of the company’s stock.

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.