Old Republic International Corporation $ORI Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC cut its stake in shares of Old Republic International Corporation (NYSE:ORI) by 66.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 42,793 shares of the insurance provider’s stock after selling 82,992 shares during the period. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Old Republic International were worth $1,817,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ORI. Blair William & Co. IL increased its holdings in shares of Old Republic International by 3.8% in the third quarter. Blair William & Co. IL now owns 34,707 shares of the insurance provider’s stock valued at $1,474,000 after purchasing an additional 1,280 shares during the period. First Trust Advisors LP increased its stake in Old Republic International by 30.6% in the 3rd quarter. First Trust Advisors LP now owns 2,331,577 shares of the insurance provider’s stock valued at $99,022,000 after buying an additional 545,803 shares during the period. HUB Investment Partners LLC raised its position in Old Republic International by 28.3% during the 3rd quarter. HUB Investment Partners LLC now owns 8,934 shares of the insurance provider’s stock worth $379,000 after buying an additional 1,971 shares during the last quarter. Gabelli Funds LLC purchased a new position in Old Republic International during the 3rd quarter worth $1,678,000. Finally, Aptus Capital Advisors LLC acquired a new stake in shares of Old Republic International in the 3rd quarter worth $219,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Price Performance

Shares of NYSE ORI opened at $40.65 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.27 and a current ratio of 0.27. Old Republic International Corporation has a one year low of $34.43 and a one year high of $46.76. The firm has a market capitalization of $9.99 billion, a P/E ratio of 11.99 and a beta of 0.73. The company’s fifty day moving average is $41.86 and its two-hundred day moving average is $42.32.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company posted $0.90 earnings per share. Analysts forecast that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be issued a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a yield of 3.1%. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s dividend payout ratio is 37.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Piper Sandler reaffirmed 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. Finally, Weiss Ratings lowered Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $42.50.

Insider Transactions at Old Republic International

In other news, Director John Eric Smith purchased 1,135 shares of the stock in a transaction that occurred on Monday, March 2nd. The shares were acquired at an average price of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director directly owned 4,276 shares in the company, valued at approximately $184,295.60. The trade was a 36.13% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $39.28, for a total value of $217,061.28. Following the completion of the transaction, the senior vice president directly owned 27,875 shares of the company’s stock, valued at $1,094,930. The trade was a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 1.10% of the company’s stock.

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. 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.