HighTower Advisors LLC Lowers Stock Holdings in Old Republic International Corporation $ORI

HighTower Advisors LLC lowered its holdings in Old Republic International Corporation (NYSE:ORI) by 33.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,556 shares of the insurance provider’s stock after selling 18,296 shares during the period. HighTower Advisors LLC’s holdings in Old Republic International were worth $1,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ORI. HWG Holdings LP purchased a new stake in shares of Old Republic International in the first quarter valued at $25,000. Alpine Bank Wealth Management purchased a new stake in shares of Old Republic International in the first quarter valued at $31,000. Wayfinding Financial LLC purchased a new stake in shares of Old Republic International in the first quarter valued at $34,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Old Republic International in the first quarter valued at $35,000. Finally, Meeder Asset Management Inc. purchased a new stake in Old Republic International during the first quarter valued at about $36,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Trading Down 0.8%

Shares of ORI opened at $39.6150 on Tuesday. The stock’s 50-day moving average is $37.46 and its two-hundred day moving average is $37.47. The stock has a market cap of $9.84 billion, a PE ratio of 13.57 and a beta of 0.74. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $40.20. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.25 and a quick ratio of 0.25.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, July 24th. The insurance provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Old Republic International had a return on equity of 20.95% and a net margin of 10.31%.The company’s quarterly revenue was up 10.1% on a year-over-year basis. Equities analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Friday, September 5th. Old Republic International’s payout ratio is currently 39.73%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Carolyn Monroe sold 6,849 shares of the business’s stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $36.52, for a total transaction of $250,125.48. Following the transaction, the senior vice president owned 35,755 shares in the company, valued at $1,305,772.60. The trade was a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction dated Thursday, August 21st. The stock was sold at an average price of $39.29, for a total value of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares in the company, valued at approximately $2,147,630.69. This represents a 8.07% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ORI. Piper Sandler lowered their price target on Old Republic International from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Friday, July 25th. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Raymond James Financial set a $42.00 price target on Old Republic International and gave the company an “outperform” rating in a research report on Monday, April 28th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $41.50.

Old Republic International Company Profile

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.