Old Republic International Corporation $ORI Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lowered its stake in Old Republic International Corporation (NYSE:ORI) by 1.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,039,089 shares of the insurance provider’s stock after selling 77,306 shares during the quarter. Geode Capital Management LLC owned about 1.63% of Old Republic International worth $155,287,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. 1 North Wealth Services LLC acquired a new stake in shares of Old Republic International during the first quarter valued at about $29,000. Quarry LP boosted its position in shares of Old Republic International by 6,645.5% during the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock worth $29,000 after purchasing an additional 731 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in Old Republic International in the 1st quarter valued at approximately $35,000. Ameritas Advisory Services LLC purchased a new stake in Old Republic International in the second quarter valued at approximately $34,000. Finally, Meeder Asset Management Inc. purchased a new stake in Old Republic International in the first quarter valued at approximately $36,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ORI shares. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their price target for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Weiss Ratings reissued a “buy (a-)” rating on shares of Old Republic International in a research note on Wednesday, October 8th. Finally, Piper Sandler lowered their target price on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a report on Friday, October 24th. Two investment analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Old Republic International has an average rating of “Strong Buy” and a consensus price target of $46.50.

Old Republic International Price Performance

Shares of NYSE ORI opened at $44.59 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.64 and a quick ratio of 0.25. The company has a market cap of $11.03 billion, a price-to-earnings ratio of 14.91 and a beta of 0.79. The stock’s 50-day moving average is $41.50 and its two-hundred day moving average is $39.13. Old Republic International Corporation has a 1-year low of $33.00 and a 1-year high of $44.76.

Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%.The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.28 billion. Analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Carolyn Monroe sold 6,680 shares of Old Republic International stock in a transaction on Friday, November 14th. The shares were sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the sale, the senior vice president directly owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. The trade was a 18.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Stephen J. Oberst sold 4,797 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the transaction, the executive vice president owned 54,661 shares of the company’s stock, valued at approximately $2,147,630.69. The trade was a 8.07% decrease in their position. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by company insiders.

Old Republic International 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.