Thrivent Financial for Lutherans Acquires 3,793,085 Shares of Old Republic International Corporation $ORI

Thrivent Financial for Lutherans boosted its stake in shares of Old Republic International Corporation (NYSE:ORI) by 2,840.8% during the third quarter, Holdings Channel.com reports. The firm owned 3,926,606 shares of the insurance provider’s stock after purchasing an additional 3,793,085 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Old Republic International were worth $166,763,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in ORI. Norges Bank acquired a new stake in shares of Old Republic International during the second quarter worth $115,071,000. AQR Capital Management LLC lifted its holdings in Old Republic International by 55.7% in the second quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after acquiring an additional 2,066,965 shares during the period. LSV Asset Management lifted its stake in shares of Old Republic International by 43.7% in the 2nd quarter. LSV Asset Management now owns 2,702,316 shares of the insurance provider’s stock valued at $103,877,000 after purchasing an additional 821,975 shares during the period. Qube Research & Technologies Ltd purchased a new stake in shares of Old Republic International during the 2nd quarter worth about $27,289,000. Finally, First Trust Advisors LP boosted its position in Old Republic International by 60.8% during the second quarter. First Trust Advisors LP now owns 1,785,774 shares of the insurance provider’s stock worth $68,645,000 after purchasing an additional 675,276 shares in the last quarter. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Trading Up 0.2%

NYSE ORI opened at $39.17 on Friday. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 11.55 and a beta of 0.76. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.64 and a quick ratio of 0.26. Old Republic International Corporation has a 12 month low of $34.43 and a 12 month high of $46.76. The firm’s fifty day moving average price is $43.78 and its 200 day moving average price is $41.43.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.15). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.31 billion. Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts expect that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The firm also recently announced a special dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, January 2nd were given a dividend of $2.50 per share. The ex-dividend date was Friday, January 2nd. Old Republic International’s payout ratio is presently 34.22%.

Insider Buying and Selling

In other Old Republic International news, Director Therace Risch acquired 1,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was bought at an average cost of $39.14 per share, for a total transaction of $39,140.00. Following the completion of the purchase, the director directly owned 10,625 shares in the company, valued at $415,862.50. This represents a 10.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Carolyn Monroe sold 6,680 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $44.54, for a total value of $297,527.20. Following the transaction, the senior vice president directly owned 29,075 shares in the company, valued at $1,295,000.50. This trade represents a 18.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 1.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ORI has been the topic of several research analyst reports. 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. Weiss Ratings restated a “buy (a)” rating on shares of Old Republic International in a research report on Wednesday, December 24th. Finally, Zacks Research downgraded Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Old Republic International presently has an average rating of “Moderate Buy” and a consensus 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.