Hamlin Capital Management LLC Has $190.89 Million Position in Old Republic International Corporation $ORI

Hamlin Capital Management LLC reduced its position in Old Republic International Corporation (NYSE:ORI) by 1.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,665,045 shares of the insurance provider’s stock after selling 73,921 shares during the quarter. Old Republic International makes up about 4.3% of Hamlin Capital Management LLC’s holdings, making the stock its 6th largest position. Hamlin Capital Management LLC’s holdings in Old Republic International were worth $190,894,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ORI. Bank of New York Mellon Corp grew its stake in shares of Old Republic International by 3.3% during the 1st quarter. Bank of New York Mellon Corp now owns 12,241,253 shares of the insurance provider’s stock worth $488,426,000 after acquiring an additional 388,866 shares during the period. AQR Capital Management LLC increased its holdings in Old Republic International by 30.7% in the 3rd quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock worth $319,155,000 after acquiring an additional 1,774,807 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Old Republic International by 0.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,721,774 shares of the insurance provider’s stock valued at $268,202,000 after acquiring an additional 60,395 shares during the period. Geode Capital Management LLC raised its stake in Old Republic International by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 4,181,149 shares of the insurance provider’s stock valued at $190,870,000 after acquiring an additional 72,857 shares during the period. Finally, Thrivent Financial for Lutherans lifted its holdings in Old Republic International by 0.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 3,949,102 shares of the insurance provider’s stock valued at $170,364,000 after purchasing an additional 22,496 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Old Republic International Trading Up 0.2%

Shares of ORI stock opened at $43.51 on Thursday. Old Republic International Corporation has a 12-month low of $36.65 and a 12-month high of $46.76. The company has a quick ratio of 0.23, a current ratio of 0.30 and a debt-to-equity ratio of 0.38. The business has a 50-day moving average price of $40.53 and a two-hundred day moving average price of $40.57. The firm has a market cap of $10.50 billion, a P/E ratio of 10.29 and a beta of 0.58.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.38 billion. Old Republic International had a net margin of 11.71% and a return on equity of 15.41%. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the business posted $0.81 earnings per share. Equities analysts anticipate that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently declared 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. This represents a $1.26 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, June 5th. Old Republic International’s dividend payout ratio is currently 29.79%.

Wall Street Analysts Forecast Growth

ORI has been the subject of a number of research reports. Raymond James Financial set a $44.00 target price on shares of Old Republic International in a research report on Monday, April 27th. Zacks Research upgraded shares of Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Piper Sandler cut their price objective on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, July 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Old Republic International in a report on Wednesday, July 8th. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $41.50.

Insider Activity at Old Republic International

In other news, SVP Jeffrey Lange sold 14,075 shares of the company’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the transaction, the senior vice president directly owned 12,244 shares of the company’s stock, valued at approximately $535,797.44. This represents a 53.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 13,330 shares of the stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total transaction of $516,670.80. Following the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 40,530 shares of company stock worth $1,709,568 in the last three months. 1.32% of the stock is owned by insiders.

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.