LSV Asset Management Trims Holdings in Old Republic International Corporation $ORI

LSV Asset Management decreased its holdings in Old Republic International Corporation (NYSE:ORI) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,722,762 shares of the insurance provider’s stock after selling 72,390 shares during the period. LSV Asset Management owned about 1.10% of Old Republic International worth $124,267,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Old Republic International by 0.5% during the third quarter. Vanguard Group Inc. now owns 25,470,798 shares of the insurance provider’s stock valued at $1,081,745,000 after buying an additional 123,954 shares during the period. AQR Capital Management LLC increased its stake in shares of Old Republic International by 30.7% during the third quarter. AQR Capital Management LLC now owns 7,553,963 shares of the insurance provider’s stock valued at $319,155,000 after buying an additional 1,774,807 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Old Republic International by 1.8% during the third quarter. Dimensional Fund Advisors LP now owns 6,717,255 shares of the insurance provider’s stock valued at $285,268,000 after buying an additional 116,549 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of 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 buying an additional 22,496 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of Old Republic International by 19.1% during the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after buying an additional 575,778 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of NYSE ORI opened at $39.35 on Friday. 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 company has a market cap of $9.55 billion, a PE ratio of 10.55 and a beta of 0.63. The business has a 50-day simple moving average of $40.08 and a two-hundred day simple moving average of $41.97. Old Republic International Corporation has a fifty-two week low of $35.60 and a fifty-two week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a return on equity of 15.71% and a net margin of 10.83%.Old Republic International’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.81 EPS. As a group, equities analysts expect that Old Republic International Corporation will post 2.95 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, June 5th will be issued a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Friday, June 5th. Old Republic International’s dividend payout ratio (DPR) is currently 33.78%.

Insider Activity

In other Old Republic International news, SVP Carolyn Monroe sold 13,330 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $38.76, for a total value of $516,670.80. Following the completion of the sale, the senior vice president owned 32,261 shares of the company’s stock, valued at approximately $1,250,436.36. This trade represents a 29.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John Eric Smith bought 1,135 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The shares were purchased at an average cost of $43.10 per share, with a total value of $48,918.50. Following the acquisition, the director directly owned 4,276 shares of the company’s stock, valued at approximately $184,295.60. This trade represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.32% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on ORI shares. Raymond James Financial set a $44.00 price target on Old Republic International in a research note on Monday, April 27th. Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, March 27th. Piper Sandler raised their price target on Old Republic International from $38.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Finally, Zacks Research lowered Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $42.00.

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. 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.