Swiss National Bank Reduces Stock Position in Old Republic International Corporation $ORI

Swiss National Bank decreased its holdings in Old Republic International Corporation (NYSE:ORI) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 448,600 shares of the insurance provider’s stock after selling 18,100 shares during the period. Swiss National Bank owned about 0.18% of Old Republic International worth $17,244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ORI. 1 North Wealth Services LLC purchased a new position in Old Republic International in the 1st quarter worth about $29,000. Quarry LP boosted its position in Old Republic International by 6,645.5% in the 1st quarter. Quarry LP now owns 742 shares of the insurance provider’s stock valued at $29,000 after buying an additional 731 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Old Republic International during the second quarter worth approximately $34,000. N.E.W. Advisory Services LLC bought a new stake in shares of Old Republic International during the first quarter valued at approximately $35,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Old Republic International in the first quarter valued at approximately $36,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

Shares of ORI opened at $46.43 on Thursday. The company has a 50 day moving average of $42.19 and a two-hundred day moving average of $39.44. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a twelve month low of $33.00 and a twelve month high of $46.63. The company has a market cap of $11.49 billion, a price-to-earnings ratio of 15.53 and a beta of 0.79.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Friday, October 24th. The insurance provider reported $0.78 earnings per share 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 firm had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.28 billion. As a group, analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, December 5th will be paid a $0.29 dividend. The ex-dividend date is Friday, December 5th. This represents a $1.16 dividend on an annualized basis and a yield of 2.5%. Old Republic International’s dividend payout ratio (DPR) is 38.80%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Weiss Ratings restated a “buy (a-)” rating on shares of Old Republic International in a report on Wednesday, October 8th. Piper Sandler decreased their price objective 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. Finally, Raymond James Financial upgraded shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and increased their target price for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Two research analysts have rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Strong Buy” and a consensus target price of $46.50.

Insider Buying and Selling

In related news, Director Therace Risch purchased 1,000 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average price of $39.14 per share, for a total transaction of $39,140.00. Following the purchase, the director owned 10,625 shares of the company’s stock, valued at $415,862.50. This trade represents a 10.39% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carolyn Monroe sold 6,680 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $44.54, for a total transaction of $297,527.20. Following the completion of the transaction, the senior vice president directly owned 29,075 shares of the company’s stock, valued at approximately $1,295,000.50. This represents a 18.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is owned by company insiders.

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.