Old Republic International Co. (NYSE:ORI) Shares Sold by Man Group plc

Man Group plc lowered its stake in shares of Old Republic International Co. (NYSE:ORI) by 12.9% during the fourth quarter, Holdings Channel reports. The fund owned 318,223 shares of the insurance provider’s stock after selling 47,072 shares during the quarter. Man Group plc’s holdings in Old Republic International were worth $11,516,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Nomura Holdings Inc. purchased a new position in Old Republic International during the fourth quarter worth about $1,120,000. Nuveen Asset Management LLC lifted its position in Old Republic International by 1.1% during the fourth quarter. Nuveen Asset Management LLC now owns 813,206 shares of the insurance provider’s stock worth $29,430,000 after buying an additional 8,551 shares during the period. Numerai GP LLC purchased a new position in Old Republic International during the fourth quarter worth about $580,000. Mubadala Investment Co PJSC purchased a new position in Old Republic International during the fourth quarter worth about $2,408,000. Finally, NDVR Inc. lifted its position in Old Republic International by 7.6% during the fourth quarter. NDVR Inc. now owns 7,516 shares of the insurance provider’s stock worth $272,000 after buying an additional 534 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on ORI shares. StockNews.com upgraded Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 25th. Piper Sandler set a $42.00 target price on Old Republic International in a research report on Friday, April 25th. Finally, Raymond James set a $42.00 target price on Old Republic International and gave the stock an “outperform” rating in a research report on Monday, April 28th.

Old Republic International Stock Performance

Old Republic International stock opened at $38.44 on Monday. The stock’s 50-day moving average is $37.70 and its 200-day moving average is $37.01. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 14.61 and a beta of 0.74. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a 12 month low of $29.51 and a 12 month 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 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $2.06 billion for the quarter, compared to the consensus estimate of $2.03 billion. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. Old Republic International’s revenue for the quarter was up 11.4% on a year-over-year basis. Equities analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.02%. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. Old Republic International’s dividend payout ratio (DPR) is 47.15%.

Insider Transactions at Old Republic International

In related news, VP Thomas Dare sold 27,457 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the sale, the vice president now directly owns 46,556 shares in the company, valued at approximately $1,699,294. This trade represents a 37.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carolyn Monroe sold 10,601 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the sale, the senior vice president now owns 35,755 shares in the company, valued at approximately $1,336,521.90. The trade was a 22.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,354 shares of company stock worth $1,602,871 in the last three months. 1.10% of the stock is currently owned by company insiders.

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.