Victory Capital Management Inc. Lowers Holdings in Old Republic International Co. (NYSE:ORI)

Victory Capital Management Inc. lowered its position in Old Republic International Co. (NYSE:ORI) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,926,339 shares of the insurance provider’s stock after selling 799,680 shares during the quarter. Victory Capital Management Inc.’s holdings in Old Republic International were worth $409,434,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ORI. Paradiem LLC grew its stake in Old Republic International by 33.7% in the 4th quarter. Paradiem LLC now owns 266,352 shares of the insurance provider’s stock worth $7,831,000 after buying an additional 67,104 shares in the last quarter. Russell Investments Group Ltd. grew its position in Old Republic International by 26.9% in the fourth quarter. Russell Investments Group Ltd. now owns 151,285 shares of the insurance provider’s stock worth $4,448,000 after acquiring an additional 32,086 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Old Republic International in the 4th quarter worth about $307,000. Headlands Technologies LLC purchased a new position in shares of Old Republic International in the 4th quarter worth about $74,000. Finally, Alaska Permanent Fund Corp increased its position in shares of Old Republic International by 9.2% during the 4th quarter. Alaska Permanent Fund Corp now owns 436,716 shares of the insurance provider’s stock valued at $12,839,000 after purchasing an additional 36,754 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Stock Up 1.5 %

ORI stock traded up $0.45 during midday trading on Wednesday, hitting $30.31. The stock had a trading volume of 820,995 shares, compared to its average volume of 1,730,831. Old Republic International Co. has a 52-week low of $24.17 and a 52-week high of $31.22. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 11.78 and a beta of 0.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.28 and a quick ratio of 0.25. The business has a 50-day moving average of $29.64 and a two-hundred day moving average of $28.97.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.06 annualized dividend and a yield of 3.50%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s payout ratio is presently 41.25%.

Insiders Place Their Bets

In other Old Republic International news, Director Barbara Adachi bought 1,925 shares of the stock in a transaction dated Friday, February 16th. The stock was purchased at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the acquisition, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related 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 transaction of $180,890.88. Following the sale, the senior vice president now directly owns 35,340 shares of the company’s stock, valued at approximately $979,271.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Barbara Adachi bought 1,925 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was purchased 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 directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The disclosure for this purchase can be found here. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ORI. Piper Sandler increased 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. StockNews.com raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

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.