Royal Bank of Canada Has $17.31 Million Holdings in Old Republic International Corporation $ORI

Royal Bank of Canada lessened its position in shares of Old Republic International Corporation (NYSE:ORI) by 34.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 433,783 shares of the insurance provider’s stock after selling 225,371 shares during the quarter. Royal Bank of Canada’s holdings in Old Republic International were worth $17,309,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC bought a new position in Old Republic International in the fourth quarter worth $26,000. Torren Management LLC acquired a new position in shares of Old Republic International in the 4th quarter valued at $27,000. Commonwealth Retirement Investments LLC acquired a new position in shares of Old Republic International in the 4th quarter valued at $27,000. JPL Wealth Management LLC bought a new position in shares of Old Republic International during the 3rd quarter worth about $27,000. Finally, Quest 10 Wealth Builders Inc. bought a new position in shares of Old Republic International during the 4th quarter worth about $31,000. 70.92% of the stock is currently owned by institutional investors.

Insider Activity

In other Old Republic International news, EVP Stephen J. Oberst sold 13,125 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $43.96, for a total transaction of $576,975.00. Following the sale, the executive vice president owned 82,205 shares of the company’s stock, valued at $3,613,731.80. This represents a 13.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jeffrey Lange sold 14,075 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $43.76, for a total transaction of $615,922.00. Following the completion of the sale, the senior vice president owned 12,244 shares of the company’s stock, valued at $535,797.44. The trade was a 53.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 40,530 shares of company stock worth $1,709,568. 1.32% of the stock is owned by corporate insiders.

Old Republic International Stock Performance

NYSE:ORI opened at $43.47 on Friday. Old Republic International Corporation has a 1 year low of $36.65 and a 1 year high of $46.76. The firm has a 50 day moving average of $40.64 and a 200-day moving average of $40.57. The company has a current ratio of 0.30, a quick ratio of 0.23 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $10.49 billion, a P/E ratio of 10.28 and a beta of 0.58.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.03). Old Republic International had a return on equity of 15.41% and a net margin of 11.71%.The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue was up 5.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Old Republic International Corporation will post 2.91 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, June 5th were paid a $0.315 dividend. The ex-dividend date was Friday, June 5th. This represents a $1.26 dividend on an annualized basis and a dividend yield of 2.9%. Old Republic International’s dividend payout ratio (DPR) is 29.79%.

Wall Street Analyst Weigh In

ORI has been the topic of several recent research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Old Republic International in a research report on Wednesday, July 8th. Piper Sandler cut their price target on shares of Old Republic International from $40.00 to $39.00 and set a “neutral” rating for the company in a research note on Friday, July 24th. Raymond James Financial set a $44.00 price objective on Old Republic International in a report on Monday, April 27th. Finally, Zacks Research upgraded Old Republic International from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Old Republic International currently has an average rating of “Moderate Buy” and a consensus target price of $41.50.

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.