Cherokee Insurance Co Cuts Stake in Old Republic International Corporation $ORI

Cherokee Insurance Co cut its holdings in Old Republic International Corporation (NYSE:ORI) by 19.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,000 shares of the insurance provider’s stock after selling 16,000 shares during the quarter. Cherokee Insurance Co’s holdings in Old Republic International were worth $2,803,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Core Alternative Capital bought a new stake in shares of Old Republic International in the 3rd quarter valued at about $42,000. Caldwell Trust Co increased its holdings in Old Republic International by 75.0% during the third quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock valued at $45,000 after buying an additional 450 shares during the period. Headlands Technologies LLC bought a new position in Old Republic International in the second quarter worth approximately $46,000. SBI Securities Co. Ltd. lifted its holdings in Old Republic International by 29.0% during the second quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after buying an additional 274 shares during the period. Finally, SJS Investment Consulting Inc. lifted its holdings in Old Republic International by 37.1% during the third quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock worth $47,000 after buying an additional 298 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the sale, the senior vice president directly owned 27,875 shares in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.10% of the stock is currently owned by company insiders.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $42.59 on Friday. The business’s 50 day moving average price is $43.03 and its 200 day moving average price is $41.78. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 12.56 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.26 and a current ratio of 0.64. Old Republic International Corporation has a one year low of $34.43 and a one year high of $46.76.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.31 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, research analysts predict that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

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

Analysts Set New Price Targets

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

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. 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.