Naples Global Advisors LLC Cuts Stake in Old Republic International Co. (NYSE:ORI)

Naples Global Advisors LLC cut its holdings in shares of Old Republic International Co. (NYSE:ORI) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 46,812 shares of the insurance provider’s stock after selling 1,294 shares during the quarter. Naples Global Advisors LLC’s holdings in Old Republic International were worth $1,694,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ORI. Core Alternative Capital purchased a new position in Old Republic International in the 4th quarter worth $36,000. Newbridge Financial Services Group Inc. purchased a new stake in Old Republic International during the fourth quarter valued at about $203,000. Entropy Technologies LP bought a new position in shares of Old Republic International during the fourth quarter valued at about $2,702,000. Lecap Asset Management Ltd. purchased a new position in shares of Old Republic International in the fourth quarter worth about $284,000. Finally, Measured Wealth Private Client Group LLC lifted its stake in shares of Old Republic International by 83.2% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 19,083 shares of the insurance provider’s stock valued at $691,000 after acquiring an additional 8,669 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

Insider Activity at Old Republic International

In related news, SVP Jeffrey Lange sold 1,098 shares of Old Republic International stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the sale, the senior vice president now directly owns 34,679 shares in the company, valued at $1,267,864.24. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the completion of the transaction, the senior vice president now owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Old Republic International Trading Up 1.6 %

NYSE ORI opened at $36.51 on Friday. The stock has a market cap of $9.26 billion, a P/E ratio of 13.88 and a beta of 0.88. Old Republic International Co. has a fifty-two week low of $28.20 and a fifty-two week high of $39.27. The stock has a 50 day simple moving average of $36.04 and a two-hundred day simple moving average of $35.82. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.28 and a current ratio of 0.62.

Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.19. Old Republic International had a return on equity of 20.32% and a net margin of 10.36%. On average, analysts forecast that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

The business also recently announced a special dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, January 3rd. Old Republic International’s payout ratio is 40.30%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ORI. Piper Sandler lifted their target price on shares of Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com cut shares of Old Republic International from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 1st.

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.