Old Republic International Corporation $ORI Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. reduced its position in Old Republic International Corporation (NYSE:ORI) by 89.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 8,347 shares of the insurance provider’s stock after selling 68,654 shares during the quarter. SummitTX Capital L.P.’s holdings in Old Republic International were worth $333,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Old Republic International in the 4th quarter worth $26,000. Torren Management LLC acquired a new position in shares of Old Republic International during the fourth quarter worth about $27,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Old Republic International during the fourth quarter worth about $27,000. JPL Wealth Management LLC acquired a new position in shares of Old Republic International during the third quarter worth about $27,000. Finally, Quest 10 Wealth Builders Inc. purchased a new position in Old Republic International during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling

In other Old Republic International news, EVP Stephen J. Oberst sold 13,125 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the completion of the transaction, the executive vice president directly owned 82,205 shares in the company, valued at approximately $3,613,731.80. This trade represents a 13.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeffrey Lange sold 14,075 shares of the firm’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 transaction, the senior vice president owned 12,244 shares of the company’s stock, valued at $535,797.44. This trade represents a 53.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 40,530 shares of company stock worth $1,709,568 in the last three months. Corporate insiders own 1.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on ORI. Weiss Ratings restated a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Raymond James Financial set a $44.00 target price on Old Republic International in a research report on Monday, April 27th. Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. Finally, Piper Sandler cut their target price on Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $41.50.

Old Republic International Stock Performance

Shares of ORI stock opened at $43.29 on Friday. The stock has a fifty day moving average price of $40.27 and a 200 day moving average price of $40.57. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.23 and a current ratio of 0.68. The stock has a market cap of $10.51 billion, a PE ratio of 10.23 and a beta of 0.58. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, July 23rd. The insurance provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.03). The firm had revenue of $2.50 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. Sell-side analysts forecast that Old Republic International Corporation will post 2.91 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, June 5th were given a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 annualized dividend and a dividend yield of 2.9%. Old Republic International’s payout ratio is currently 29.79%.

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.