Woodmont Investment Counsel LLC Cuts Position in Old Republic International Corporation $ORI

Woodmont Investment Counsel LLC reduced its position in Old Republic International Corporation (NYSE:ORI) by 18.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,432 shares of the insurance provider’s stock after selling 25,964 shares during the period. Woodmont Investment Counsel LLC’s holdings in Old Republic International were worth $4,817,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in Old Republic International by 22.8% during the third quarter. Jones Financial Companies Lllp now owns 7,485 shares of the insurance provider’s stock worth $314,000 after buying an additional 1,391 shares during the period. United Community Bank acquired a new position in shares of Old Republic International during the 3rd quarter valued at $592,000. Gitterman Wealth Management LLC purchased a new stake in Old Republic International during the 3rd quarter worth $310,000. Transcend Capital Advisors LLC increased its holdings in Old Republic International by 54.1% in the 3rd quarter. Transcend Capital Advisors LLC now owns 11,121 shares of the insurance provider’s stock valued at $472,000 after purchasing an additional 3,902 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Old Republic International by 2,840.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock valued at $166,763,000 after purchasing an additional 3,793,085 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday, December 24th. Piper Sandler reiterated a “neutral” rating and set a $38.00 price objective (down previously from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

Old Republic International Stock Performance

Shares of ORI opened at $39.17 on Monday. The firm has a market cap of $9.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.75. The company has a quick ratio of 0.26, a current ratio of 0.64 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $43.78 and its two-hundred day moving average is $41.47. Old Republic International Corporation has a 52-week low of $34.43 and a 52-week high of $46.76.

Old Republic International (NYSE:ORI) last issued its quarterly 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 return on equity of 16.21% and a net margin of 10.24%.The company had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter last year, the firm posted $0.90 EPS. Analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were paid a $2.50 dividend. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is 34.22%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction dated 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 transaction, the senior vice president directly owned 29,075 shares in the company, valued at approximately $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.10% of the company’s stock.

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.