NFC Investments LLC Sells 30,000 Shares of Old Republic International Corporation $ORI

NFC Investments LLC trimmed its position in Old Republic International Corporation (NYSE:ORI) by 16.0% in the 3rd quarter, Holdings Channel reports. The firm owned 157,500 shares of the insurance provider’s stock after selling 30,000 shares during the quarter. Old Republic International accounts for 1.9% of NFC Investments LLC’s holdings, making the stock its 17th largest position. NFC Investments LLC’s holdings in Old Republic International were worth $6,689,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ORI. Ellsworth Advisors LLC purchased a new stake in shares of Old Republic International in the third quarter worth $6,000,000. Vest Financial LLC bought a new position in Old Republic International in the 3rd quarter worth about $1,517,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in Old Republic International by 261.8% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 277,350 shares of the insurance provider’s stock worth $11,779,000 after acquiring an additional 200,692 shares during the last quarter. American National Bank & Trust raised its holdings in shares of Old Republic International by 80.0% in the 3rd quarter. American National Bank & Trust now owns 45,000 shares of the insurance provider’s stock valued at $1,911,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Old Republic International by 19.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after acquiring an additional 575,778 shares during the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Old Republic International Stock Up 0.2%

Shares of ORI opened at $42.46 on Thursday. The firm has a market cap of $10.43 billion, a P/E ratio of 12.53 and a beta of 0.73. The stock has a 50 day simple moving average of $42.27 and a two-hundred day simple moving average of $42.24. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.27 and a quick ratio of 0.27. Old Republic International Corporation has a 1 year low of $34.43 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). Old Republic International had a return on equity of 16.21% and a net margin of 10.24%.During the same quarter in the previous year, the company earned $0.90 EPS. On average, analysts forecast that Old Republic International Corporation will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Monday, March 9th will be paid a $0.315 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.29. This represents a $1.26 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Monday, March 9th. Old Republic International’s payout ratio is presently 34.22%.

Insider Buying and Selling at Old Republic International

In related news, Director John Eric Smith bought 1,135 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was bought at an average cost of $43.10 per share, for a total transaction of $48,918.50. Following the acquisition, the director directly owned 4,276 shares of the company’s stock, valued at $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 at the SEC website. Also, SVP Carolyn Monroe sold 5,526 shares of Old Republic International stock in a transaction that occurred on Monday, February 2nd. The stock was 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 in the company, valued at $1,094,930. This trade represents a 16.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ORI. Piper Sandler restated a “neutral” rating and issued a $38.00 price objective (down from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, February 27th. Finally, Zacks Research cut shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.