Twin Capital Management Inc. Cuts Position in Old Republic International Co. (NYSE:ORI)

Twin Capital Management Inc. decreased its position in Old Republic International Co. (NYSE:ORI) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,011 shares of the insurance provider’s stock after selling 1,431 shares during the quarter. Twin Capital Management Inc.’s holdings in Old Republic International were worth $1,941,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of Old Republic International by 58.9% during the first quarter. American Century Companies Inc. now owns 56,825 shares of the insurance provider’s stock worth $1,471,000 after purchasing an additional 21,064 shares in the last quarter. HighTower Advisors LLC boosted its stake in Old Republic International by 31.1% in the first quarter. HighTower Advisors LLC now owns 17,253 shares of the insurance provider’s stock valued at $448,000 after acquiring an additional 4,088 shares in the last quarter. Natixis Advisors L.P. boosted its stake in Old Republic International by 21.5% in the first quarter. Natixis Advisors L.P. now owns 22,153 shares of the insurance provider’s stock valued at $573,000 after acquiring an additional 3,918 shares in the last quarter. D.A. Davidson & CO. acquired a new position in Old Republic International in the first quarter valued at $296,000. Finally, Panagora Asset Management Inc. boosted its stake in Old Republic International by 2.3% in the first quarter. Panagora Asset Management Inc. now owns 21,388 shares of the insurance provider’s stock valued at $553,000 after acquiring an additional 484 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling

In related news, Director Barbara Adachi bought 1,925 shares of the company’s stock in a transaction on Friday, February 16th. The stock was bought at an average cost of $28.60 per share, with a total value of $55,055.00. Following the completion of the acquisition, the director now owns 7,845 shares in the company, valued at approximately $224,367. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Old Republic International news, SVP Carolyn Monroe sold 6,528 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares of the company’s stock, valued at $979,271.40. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Barbara Adachi purchased 1,925 shares of the stock in a transaction dated Friday, February 16th. The stock was acquired at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the transaction, the director now directly owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Piper Sandler upped their target price on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st.

Old Republic International Trading Up 1.7 %

NYSE ORI opened at $29.12 on Friday. The stock has a market capitalization of $8.02 billion, a P/E ratio of 13.87 and a beta of 0.81. Old Republic International Co. has a 52-week low of $24.03 and a 52-week high of $31.22. The firm has a 50-day moving average price of $29.39 and a 200 day moving average price of $28.75. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 0.25.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.69 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.03). The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Old Republic International had a return on equity of 12.10% and a net margin of 8.25%. Equities research analysts expect that Old Republic International Co. will post 2.7 EPS for the current year.

Old Republic International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were issued a dividend of $0.265 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.25. This represents a $1.06 annualized dividend and a yield of 3.64%. The ex-dividend date was Friday, March 8th. Old Republic International’s dividend payout ratio is currently 50.48%.

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.