Victory Capital Management Inc. Trims Stake in Old Republic International Corporation $ORI

Victory Capital Management Inc. lowered its position in Old Republic International Corporation (NYSE:ORI) by 16.5% in the 3rd quarter, Holdings Channel reports. The firm owned 8,502,828 shares of the insurance provider’s stock after selling 1,674,658 shares during the quarter. Victory Capital Management Inc.’s holdings in Old Republic International were worth $361,115,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ORI. Thrivent Financial for Lutherans grew its stake in shares of Old Republic International by 2,840.8% during 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 buying an additional 3,793,085 shares during the last quarter. Norges Bank purchased a new position in Old Republic International during the 2nd quarter valued at $115,071,000. AQR Capital Management LLC grew its position in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after acquiring an additional 2,066,965 shares during the last quarter. LSV Asset Management increased its stake in Old Republic International by 43.7% in the second quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider’s stock worth $103,877,000 after purchasing an additional 821,975 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in Old Republic International in the second quarter worth $27,289,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling

In other Old Republic International news, SVP Carolyn Monroe sold 5,526 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This represents a 16.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.10% of the company’s stock.

Old Republic International Stock Performance

Shares of NYSE:ORI opened at $43.07 on Tuesday. The firm has a 50 day moving average of $42.43 and a 200 day moving average of $42.21. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 12.71 and a beta of 0.73. 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 announced its earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same period in the prior year, the firm posted $0.90 EPS. On average, sell-side analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be paid a $0.315 dividend. This represents a $1.26 annualized dividend and a yield of 2.9%. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, March 9th. Old Republic International’s payout ratio is presently 34.22%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Old Republic International currently has a consensus rating of “Moderate Buy” and an average price target of $42.50.

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.