Old Republic International Corporation $ORI Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its position in shares of Old Republic International Corporation (NYSE:ORI) by 5.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 656,306 shares of the insurance provider’s stock after selling 40,294 shares during the quarter. Allianz Asset Management GmbH owned 0.26% of Old Republic International worth $27,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC lifted its stake in Old Republic International by 55.7% during the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after acquiring an additional 2,066,965 shares during the period. Hamlin Capital Management LLC raised its holdings in shares of Old Republic International by 0.3% during the second quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock worth $200,166,000 after purchasing an additional 15,920 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Old Republic International by 2,840.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock valued at $166,763,000 after purchasing an additional 3,793,085 shares during the period. Bank of New York Mellon Corp boosted its holdings in Old Republic International by 19.1% in the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after purchasing an additional 575,778 shares during the last quarter. Finally, Norges Bank purchased a new stake in Old Republic International in the second quarter valued at $115,071,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of ORI stock opened at $41.35 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.26 and a debt-to-equity ratio of 0.27. Old Republic International Corporation has a 12-month low of $34.43 and a 12-month high of $46.76. The business’s 50 day moving average is $43.31 and its two-hundred day moving average is $41.50. The company has a market capitalization of $10.23 billion, a P/E ratio of 12.20 and a beta of 0.75.

Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.The business had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.31 billion. During the same period in the previous year, the company earned $0.90 earnings per share. Analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were given a dividend of $2.50 per share. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is currently 34.22%.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $44.54, for a total value of $297,527.20. Following the sale, the senior vice president owned 29,075 shares in the company, valued at $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ORI. Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a research note on Wednesday, December 24th. Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price target (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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. The General Insurance segment offers aviation, commercial auto, commercial multi-peril, commercial property, general liability, home and auto warranty, inland marine, travel accident, and workers' compensation insurance products; and financial indemnity products for specialty coverages, including errors and omissions, fidelity, directors and officers, and surety.