Machina Capital S.A.S. Trims Stake in Old Republic International Corporation $ORI

Machina Capital S.A.S. reduced its position in shares of Old Republic International Corporation (NYSE:ORI) by 37.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,377 shares of the insurance provider’s stock after selling 4,453 shares during the period. Machina Capital S.A.S.’s holdings in Old Republic International were worth $284,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Burney Co. grew its position in shares of Old Republic International by 0.3% during the 2nd quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock valued at $3,456,000 after purchasing an additional 276 shares in the last quarter. Simon Quick Advisors LLC grew its holdings in shares of Old Republic International by 62.8% during the second quarter. Simon Quick Advisors LLC now owns 12,533 shares of the insurance provider’s stock worth $482,000 after purchasing an additional 4,835 shares in the last quarter. Strs Ohio grew its holdings in shares of Old Republic International by 6.0% during the second quarter. Strs Ohio now owns 84,973 shares of the insurance provider’s stock worth $3,266,000 after purchasing an additional 4,784 shares in the last quarter. Impact Partnership Wealth LLC grew its holdings in shares of Old Republic International by 6.9% during the second quarter. Impact Partnership Wealth LLC now owns 15,517 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 1,008 shares in the last quarter. Finally, MeadowBrook Investment Advisors LLC purchased a new position in shares of Old Republic International during the second quarter worth about $163,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on ORI. Wall Street Zen lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Saturday, July 12th. Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and boosted their price objective for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Piper Sandler cut their price objective on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Finally, Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Strong Buy” and an average target price of $46.50.

Insider Buying and Selling

In related news, Director Therace Risch acquired 1,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was purchased at an average price of $39.14 per share, with a total value of $39,140.00. Following the completion of the purchase, the director owned 10,625 shares in the company, valued at $415,862.50. This trade represents a 10.39% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at approximately $2,147,630.69. This trade represents a 8.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Stock Performance

Old Republic International stock opened at $40.08 on Wednesday. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $9.96 billion, a PE ratio of 13.40 and a beta of 0.76. The firm has a fifty day simple moving average of $41.04 and a two-hundred day simple moving average of $38.79. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $44.00.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. Research analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were 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 of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is 38.80%.

Old Republic International 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.