Old Republic International Corporation $ORI Stock Position Cut by KBC Group NV

KBC Group NV decreased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 39.4% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 6,197 shares of the insurance provider’s stock after selling 4,027 shares during the period. KBC Group NV’s holdings in Old Republic International were worth $238,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in ORI. 1 North Wealth Services LLC bought a new position in shares of Old Republic International in the first quarter valued at approximately $29,000. Quarry LP lifted its position in Old Republic International by 6,645.5% in the first quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 731 shares during the period. N.E.W. Advisory Services LLC bought a new position in Old Republic International during the 1st quarter valued at $35,000. Ameritas Advisory Services LLC acquired a new position in shares of Old Republic International during the 2nd quarter valued at $34,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of Old Republic International during the 1st quarter valued at $36,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ORI shares. Piper Sandler cut their price objective on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $43.00 to $47.00 in a research report on Monday, September 22nd. Finally, Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Strong Buy” and an average price target of $46.50.

Insider Activity

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at $2,147,630.69. The trade was a 8.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.54, for a total value of $297,527.20. Following the completion of the sale, the senior vice president directly owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is owned by company insiders.

Old Republic International Trading Up 2.5%

NYSE:ORI opened at $44.59 on Wednesday. The stock has a fifty day simple moving average of $41.50 and a 200 day simple moving average of $39.13. The firm has a market capitalization of $11.03 billion, a price-to-earnings ratio of 14.91 and a beta of 0.79. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $44.76. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.28 billion. Sell-side analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current year.

About Old Republic International

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.