GW&K Investment Management LLC Lowers Stake in Old Republic International Corporation $ORI

GW&K Investment Management LLC lessened its holdings in Old Republic International Corporation (NYSE:ORI) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,392,008 shares of the insurance provider’s stock after selling 76,078 shares during the period. GW&K Investment Management LLC’s holdings in Old Republic International were worth $59,119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of ORI. Clearstead Trust LLC grew its holdings in Old Republic International by 65.6% in the third quarter. Clearstead Trust LLC now owns 727 shares of the insurance provider’s stock valued at $31,000 after purchasing an additional 288 shares during the period. Core Alternative Capital purchased a new position in shares of Old Republic International during the 3rd quarter valued at approximately $42,000. Caldwell Trust Co grew its stake in Old Republic International by 75.0% in the 3rd quarter. Caldwell Trust Co now owns 1,050 shares of the insurance provider’s stock valued at $45,000 after acquiring an additional 450 shares during the period. Headlands Technologies LLC acquired a new stake in Old Republic International in the 2nd quarter valued at $46,000. Finally, SBI Securities Co. Ltd. increased its holdings in Old Republic International by 29.0% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,219 shares of the insurance provider’s stock worth $47,000 after acquiring an additional 274 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Price Performance

Shares of NYSE ORI opened at $42.46 on Thursday. The firm has a 50-day simple moving average of $42.27 and a 200-day simple moving average of $42.24. 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 stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 12.53 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 quarterly earnings data 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 quarter in the previous year, the firm posted $0.90 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Monday, March 9th will be issued a $0.315 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s payout ratio is 34.22%.

Insider Buying and Selling

In related news, Director John Eric Smith bought 1,135 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was acquired at an average cost of $43.10 per share, with a total value of $48,918.50. Following the purchase, the director directly owned 4,276 shares of the company’s stock, valued at $184,295.60. The trade was a 36.13% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $39.28, for a total value of $217,061.28. Following the transaction, the senior vice president owned 27,875 shares in the company, valued at approximately $1,094,930. This represents a 16.54% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ORI. Weiss Ratings downgraded shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 27th. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $42.50.

About Old Republic International

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.