Old Republic International Co. (NYSE:ORI) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in Old Republic International Co. (NYSE:ORI) by 50.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 224,710 shares of the insurance provider’s stock after selling 226,533 shares during the period. Bank of America Corp DE owned 0.09% of Old Republic International worth $8,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fairway Wealth LLC purchased a new position in Old Republic International in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. purchased a new stake in Old Republic International in the fourth quarter valued at approximately $34,000. Core Alternative Capital purchased a new stake in shares of Old Republic International in the fourth quarter valued at about $36,000. Synergy Asset Management LLC acquired a new position in Old Republic International in the 4th quarter valued at $39,000. Finally, Crews Bank & Trust acquired a new position in Old Republic International during the 4th quarter worth approximately $40,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the subject of several research reports. Piper Sandler set a $42.00 price objective on Old Republic International in a report on Friday, April 25th. Wall Street Zen upgraded Old Republic International from a “hold” rating to a “buy” rating in a report on Friday, April 25th. Finally, Raymond James set a $42.00 price target on Old Republic International and gave the stock an “outperform” rating in a research report on Monday, April 28th.

Insider Activity

In other news, SVP Carolyn Monroe sold 10,601 shares of the company’s stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now owns 35,755 shares in the company, valued at $1,336,521.90. This represents a 22.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the sale, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at $5,335,369.20. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,354 shares of company stock worth $1,602,871. 1.10% of the stock is owned by company insiders.

Old Republic International Stock Up 0.5%

Shares of Old Republic International stock opened at $37.43 on Monday. The firm has a market cap of $9.25 billion, a P/E ratio of 14.23 and a beta of 0.74. The business has a 50-day moving average price of $37.78 and a 200 day moving average price of $37.09. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a fifty-two week low of $29.51 and a fifty-two week high of $39.84.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 24th. The insurance provider reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. The business had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.03 billion. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, sell-side analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.10%. Old Republic International’s payout ratio is 47.15%.

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.