GW&K Investment Management LLC Cuts Stake in Old Republic International Corporation $ORI

GW&K Investment Management LLC lessened its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,392,008 shares of the insurance provider’s stock after selling 76,078 shares during the period. GW&K Investment Management LLC owned approximately 0.56% of Old Republic International worth $59,119,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Old Republic International by 30.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock valued at $477,000 after buying an additional 2,867 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Old Republic International by 121.9% during the first quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock worth $944,000 after acquiring an additional 13,224 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Old Republic International by 122.1% during the first quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after acquiring an additional 2,493 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Old Republic International by 10.3% during the first quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock valued at $62,480,000 after acquiring an additional 148,891 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its position in shares of Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock valued at $323,000 after purchasing an additional 2,028 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Insider Transactions at Old Republic International

In other news, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the sale, the senior vice president owned 27,875 shares of the company’s stock, valued at $1,094,930. This trade represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Eric Smith bought 1,135 shares of the business’s stock in a transaction dated 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 completion of the acquisition, the director owned 4,276 shares in the company, valued at approximately $184,295.60. This represents a 36.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 1.10% of the stock is owned by corporate insiders.

Old Republic International Stock Up 0.2%

NYSE:ORI opened at $42.46 on Thursday. The firm has a market capitalization of $10.43 billion, a P/E ratio of 12.53 and a beta of 0.73. Old Republic International Corporation has a 1-year low of $34.43 and a 1-year high of $46.76. The company’s fifty day moving average price is $42.27 and its 200-day moving average price is $42.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter last year, the company earned $0.90 EPS. As a group, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Monday, March 9th will be paid a $0.315 dividend. The ex-dividend date is Monday, March 9th. This is a positive change from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.0%. Old Republic International’s dividend payout ratio (DPR) is currently 34.22%.

Wall Street Analyst Weigh In

Several analysts have weighed in on ORI shares. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 27th. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Finally, Piper Sandler reissued a “neutral” rating and set a $38.00 price objective (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. 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 issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $42.50.

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.