Heartland Advisors Inc. Sells 33,208 Shares of Old Republic International Corporation $ORI

Heartland Advisors Inc. trimmed its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 16.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 172,092 shares of the insurance provider’s stock after selling 33,208 shares during the period. Heartland Advisors Inc.’s holdings in Old Republic International were worth $6,866,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Simon Quick Advisors LLC acquired a new stake in shares of Old Republic International in the first quarter valued at about $263,000. Modera Wealth Management LLC acquired a new position in Old Republic International during the first quarter valued at approximately $251,000. Twin Capital Management Inc. boosted its position in Old Republic International by 1.5% during the first quarter. Twin Capital Management Inc. now owns 25,766 shares of the insurance provider’s stock valued at $1,028,000 after purchasing an additional 389 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Old Republic International by 3.3% in the first quarter. Bank of New York Mellon Corp now owns 12,241,253 shares of the insurance provider’s stock valued at $488,426,000 after purchasing an additional 388,866 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in Old Republic International by 56.3% in the first quarter. Illinois Municipal Retirement Fund now owns 157,973 shares of the insurance provider’s stock valued at $6,303,000 after purchasing an additional 56,913 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ORI shares. Raymond James Financial set a $44.00 price objective on Old Republic International in a research note on Monday, April 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Old Republic International in a research note on Wednesday, July 8th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Finally, Piper Sandler upped their price target on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $42.00.

Old Republic International Trading Up 1.7%

Old Republic International stock opened at $42.19 on Friday. Old Republic International Corporation has a 52 week low of $35.60 and a 52 week high of $46.76. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. The stock has a market capitalization of $10.24 billion, a P/E ratio of 11.31 and a beta of 0.58. The stock has a 50-day simple moving average of $39.59 and a 200 day simple moving average of $40.67.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.39 billion. During the same quarter in the prior year, the company earned $0.81 EPS. Old Republic International’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts expect that Old Republic International Corporation will post 2.95 earnings per share for the current year.

Old Republic International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were issued a dividend of $0.315 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s payout ratio is presently 33.78%.

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.