Profund Advisors LLC Sells 2,154 Shares of Old Republic International Co. (NYSE:ORI)

Posted by Defense World Staff on Sep 8th, 2023

Profund Advisors LLC lessened its stake in Old Republic International Co. (NYSE:ORI – Free Report) by 17.9% in the 1st quarter, Holdings Channel reports. The institutional investor owned 9,901 shares of the insurance provider’s stock after selling 2,154 shares during the period. Profund Advisors LLC’s holdings in Old Republic International were worth $247,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its stake in Old Republic International by 3.1% during the first quarter. Commonwealth Equity Services LLC now owns 154,054 shares of the insurance provider’s stock worth $3,846,000 after buying an additional 4,695 shares in the last quarter. Brandes Investment Partners LP increased its position in Old Republic International by 17.4% in the 1st quarter. Brandes Investment Partners LP now owns 1,797,271 shares of the insurance provider’s stock valued at $44,878,000 after acquiring an additional 266,491 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in Old Republic International in the 4th quarter worth approximately $224,000. Illinois Municipal Retirement Fund lifted its stake in shares of Old Republic International by 40.8% during the first quarter. Illinois Municipal Retirement Fund now owns 51,746 shares of the insurance provider’s stock valued at $1,292,000 after acquiring an additional 14,997 shares during the period. Finally, State of New Jersey Common Pension Fund D boosted its stake in shares of Old Republic International by 6.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 143,285 shares of the insurance provider’s stock valued at $3,578,000 after purchasing an additional 9,258 shares during the last quarter. 70.61% of the stock is owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of NYSE ORI opened at $26.99 on Friday. Old Republic International Co. has a fifty-two week low of $20.27 and a fifty-two week high of $29.89. The stock has a market capitalization of $7.68 billion, a price-to-earnings ratio of 10.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.57 and a quick ratio of 0.57. The business has a 50-day moving average of $26.77 and a 200-day moving average of $25.64.

Old Republic International (NYSE:ORI – Get Free Report) last issued its earnings results on Thursday, July 27th. The insurance provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.08. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.93 billion. Old Republic International had a net margin of 10.18% and a return on equity of 13.20%. As a group, sell-side analysts predict that Old Republic International Co. will post 2.6 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.245 dividend. This represents a $0.98 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, September 1st. This is a boost from Old Republic International’s previous quarterly dividend of $0.24. Old Republic International’s dividend payout ratio is 37.12%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Old Republic International from $27.00 to $31.00 in a research note on Friday, July 28th. StockNews.com started coverage on Old Republic International in a report on Thursday, August 17th. They set a “buy” rating for the company.

Check Out Our Latest Stock Analysis on ORI

Insider Activity

In other news, Director Barbara Adachi purchased 3,620 shares of the company’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was acquired at an average cost of $27.64 per share, with a total value of $100,056.80. Following the acquisition, the director now owns 5,920 shares in the company, valued at approximately $163,628.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Old Republic International news, Director Barbara Adachi acquired 3,620 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was acquired at an average price of $27.64 per share, for a total transaction of $100,056.80. Following the purchase, the director now directly owns 5,920 shares of the company’s stock, valued at $163,628.80. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Stephen J. Oberst sold 26,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $27.68, for a total value of $733,520.00. Following the completion of the sale, the executive vice president now owns 68,574 shares of the company’s stock, valued at $1,898,128.32. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Old Republic International Company Profile

(Free Report)

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 the Republic Financial Indemnity Group Run-off Business.