Capital Fund Management S.A. Decreases Position in Old Republic International Co. (NYSE:ORI)

Posted by Defense World Staff on Jun 5th, 2023

Capital Fund Management S.A. trimmed its stake in shares of Old Republic International Co. (NYSE:ORI – Get Rating) by 25.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,532 shares of the insurance provider’s stock after selling 5,362 shares during the period. Capital Fund Management S.A.’s holdings in Old Republic International were worth $375,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. grew its position in Old Republic International by 212.2% during the third quarter. TCI Wealth Advisors Inc. now owns 1,255 shares of the insurance provider’s stock valued at $26,000 after buying an additional 853 shares during the period. Belpointe Asset Management LLC bought a new stake in Old Republic International during the fourth quarter valued at approximately $28,000. Atlas Capital Advisors LLC bought a new stake in Old Republic International during the second quarter valued at approximately $34,000. Align Wealth Management LLC bought a new stake in Old Republic International during the fourth quarter valued at approximately $42,000. Finally, Hollencrest Capital Management bought a new stake in Old Republic International during the fourth quarter valued at approximately $58,000. 70.87% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Piper Sandler started coverage on shares of Old Republic International in a research report on Wednesday, May 17th. They set a “neutral” rating and a $27.00 target price for the company.

Old Republic International Trading Up 1.7 %

Shares of ORI opened at $24.69 on Monday. The company has a market cap of $7.23 billion, a P/E ratio of 12.53 and a beta of 0.80. Old Republic International Co. has a twelve month low of $20.27 and a twelve month high of $26.72. The company’s fifty day simple moving average is $25.07 and its 200-day simple moving average is $24.90. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 0.25.

Old Republic International Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Monday, June 5th will be issued a $0.244 dividend. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.95%. The ex-dividend date is Friday, June 2nd. Old Republic International’s dividend payout ratio is currently 49.75%.

Old Republic International Company Profile

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Old Republic International Corp. is a holding company, which engages in the business of insurance underwriting. It operates through the following segments: General Insurance, Title Insurance, Republic Financial Indemnity Group (RFIG) Run-Off, and Corporate and Other. The General Insurance segment provides property and liability insurance primarily to commercial clients.