Citigroup Inc. Buys 15,229 Shares of Old Republic International Corporation $ORI

Citigroup Inc. lifted its stake in shares of Old Republic International Corporation (NYSE:ORI) by 14.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 120,355 shares of the insurance provider’s stock after purchasing an additional 15,229 shares during the quarter. Citigroup Inc.’s holdings in Old Republic International were worth $5,111,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Core Alternative Capital bought a new stake in Old Republic International during the third quarter worth about $42,000. Caldwell Trust Co raised its position in shares of Old Republic International by 75.0% in the 3rd 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 in the last quarter. Headlands Technologies LLC bought a new stake in shares of Old Republic International during the 2nd quarter worth approximately $46,000. SBI Securities Co. Ltd. lifted its holdings in shares of Old Republic International by 29.0% during the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 274 shares during the period. Finally, SJS Investment Consulting Inc. boosted its position in shares of Old Republic International by 37.1% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,101 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 298 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Old Republic International Trading Down 1.6%

NYSE ORI opened at $42.37 on Wednesday. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 12.50 and a beta of 0.73. Old Republic International Corporation has a twelve month low of $34.43 and a twelve month high of $46.76. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average is $42.35 and its 200 day moving average is $42.24.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same period last year, the firm posted $0.90 earnings per share. As a group, sell-side analysts expect that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be given a dividend of $0.315 per share. The ex-dividend date is Monday, March 9th. This represents a $1.26 annualized dividend and a yield of 3.0%. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. Old Republic International’s dividend payout ratio is 34.22%.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on ORI shares. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday. Finally, Piper Sandler restated a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Old Republic International currently has an average rating of “Moderate Buy” and a consensus 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.