GW&K Investment Management LLC Decreases Holdings in Old Republic International Corporation $ORI

GW&K Investment Management LLC lowered its position in Old Republic International Corporation (NYSE:ORI) by 15.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,175,900 shares of the insurance provider’s stock after selling 216,108 shares during the quarter. GW&K Investment Management LLC’s holdings in Old Republic International were worth $53,668,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ORI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Old Republic International by 30.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,157 shares of the insurance provider’s stock worth $477,000 after buying an additional 2,867 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Old Republic International by 121.9% in the 1st quarter. NewEdge Advisors LLC now owns 24,069 shares of the insurance provider’s stock worth $944,000 after buying an additional 13,224 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in Old Republic International by 122.1% in the 1st quarter. Jones Financial Companies Lllp now owns 4,534 shares of the insurance provider’s stock worth $178,000 after buying an additional 2,493 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Old Republic International by 10.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,593,065 shares of the insurance provider’s stock worth $62,480,000 after buying an additional 148,891 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its holdings in Old Republic International by 31.8% in the 2nd quarter. Sivia Capital Partners LLC now owns 8,414 shares of the insurance provider’s stock worth $323,000 after buying an additional 2,028 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Old Republic International Stock Performance

Shares of Old Republic International stock opened at $37.86 on Wednesday. The firm has a market cap of $9.19 billion, a PE ratio of 10.15 and a beta of 0.59. The firm’s 50-day simple moving average is $39.72 and its 200-day simple moving average is $41.60. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.23 and a current ratio of 0.23. Old Republic International Corporation has a 1 year low of $35.60 and a 1 year high of $46.76.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, April 23rd. The insurance provider reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.39 billion. Old Republic International had a net margin of 10.83% and a return on equity of 15.71%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.81 EPS. Equities analysts forecast that Old Republic International Corporation will post 2.95 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, June 5th will be paid a $0.315 dividend. This represents a $1.26 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, June 5th. Old Republic International’s dividend payout ratio is 33.78%.

Insider Activity

In other news, SVP Carolyn Monroe sold 13,330 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $38.76, for a total value of $516,670.80. Following the sale, the senior vice president owned 32,261 shares in the company, valued at approximately $1,250,436.36. This represents a 29.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Company insiders own 1.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Raymond James Financial set a $44.00 price objective on shares of Old Republic International in a report on Monday, April 27th. Weiss Ratings lowered shares of Old Republic International from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, March 27th. Piper Sandler boosted their price objective on shares of Old Republic International from $38.00 to $40.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Finally, Zacks Research lowered shares of Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Old Republic International currently has a consensus rating of “Moderate Buy” and an average price target of $42.00.

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. 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.