Assetmark Inc. Sells 3,960 Shares of Old Republic International Corporation $ORI

Assetmark Inc. trimmed its holdings in shares of Old Republic International Corporation (NYSE:ORI) by 3.2% in the second quarter, Holdings Channel.com reports. The firm owned 121,179 shares of the insurance provider’s stock after selling 3,960 shares during the quarter. Assetmark Inc.’s holdings in Old Republic International were worth $4,658,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ORI. AQR Capital Management LLC increased its stake in Old Republic International by 96.9% during the 1st quarter. AQR Capital Management LLC now owns 3,712,191 shares of the insurance provider’s stock worth $145,481,000 after purchasing an additional 1,827,180 shares in the last quarter. Nuveen LLC bought a new stake in Old Republic International during the 1st quarter worth approximately $31,866,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Old Republic International during the 2nd quarter worth approximately $19,299,000. GW&K Investment Management LLC boosted its position in Old Republic International by 44.4% during the 1st quarter. GW&K Investment Management LLC now owns 1,436,051 shares of the insurance provider’s stock worth $56,322,000 after acquiring an additional 441,799 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Old Republic International by 106.4% during the 1st quarter. Royal Bank of Canada now owns 784,795 shares of the insurance provider’s stock worth $30,779,000 after acquiring an additional 404,570 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Insider Activity at Old Republic International

In other Old Republic International news, Director Therace Risch purchased 1,500 shares of the business’s stock in a transaction on Tuesday, September 2nd. The stock was acquired at an average price of $39.90 per share, with a total value of $59,850.00. Following the acquisition, the director directly owned 9,625 shares of the company’s stock, valued at $384,037.50. This trade represents a 18.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Stephen J. Oberst sold 4,797 shares of the firm’s stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $39.29, for a total value of $188,474.13. Following the sale, the executive vice president directly owned 54,661 shares of the company’s stock, valued at $2,147,630.69. This represents a 8.07% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 1.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Piper Sandler reduced their price target on Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Wall Street Zen downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Saturday, July 12th. Finally, Raymond James Financial raised Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price target for the stock from $43.00 to $47.00 in a research report on Monday, September 22nd. Two investment analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of $46.50.

Old Republic International Trading Down 0.2%

NYSE ORI opened at $39.37 on Tuesday. The company has a market cap of $9.78 billion, a PE ratio of 13.17 and a beta of 0.76. The company has a current ratio of 0.64, a quick ratio of 0.25 and a debt-to-equity ratio of 0.25. Old Republic International Corporation has a 12 month low of $33.00 and a 12 month high of $44.00. The stock has a 50 day moving average of $41.04 and a 200-day moving average of $38.78.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, October 23rd. The insurance provider reported $1.11 EPS for the quarter, beating the consensus estimate of $0.73 by $0.38. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.28 billion. Old Republic International had a return on equity of 17.11% and a net margin of 9.53%. On average, equities research analysts anticipate that Old Republic International Corporation will post 3.17 EPS for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Friday, September 5th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Friday, September 5th. Old Republic International’s dividend payout ratio is presently 38.80%.

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.