D. E. Shaw & Co. Inc. Sells 9,059 Shares of Old Republic International Co. (NYSE:ORI)

D. E. Shaw & Co. Inc. lowered its stake in Old Republic International Co. (NYSE:ORI) by 51.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,432 shares of the insurance provider’s stock after selling 9,059 shares during the period. D. E. Shaw & Co. Inc.’s holdings in Old Republic International were worth $305,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in Old Republic International in the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Old Republic International during the 4th quarter worth approximately $34,000. Core Alternative Capital acquired a new stake in shares of Old Republic International during the 4th quarter worth approximately $36,000. Synergy Asset Management LLC bought a new position in Old Republic International in the fourth quarter valued at approximately $39,000. Finally, Crews Bank & Trust bought a new position in Old Republic International in the fourth quarter valued at approximately $40,000. Institutional investors own 70.92% of the company’s stock.

Insider Activity

In related news, SVP Carolyn Monroe sold 10,601 shares of the business’s stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $37.38, for a total value of $396,265.38. Following the transaction, the senior vice president now owns 35,755 shares in the company, valued at $1,336,521.90. The trade was a 22.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of Old Republic International stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total value of $204,425.60. Following the completion of the transaction, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. This trade represents a 3.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,354 shares of company stock valued at $1,602,871. Company insiders own 1.10% of the company’s stock.

Old Republic International Price Performance

Old Republic International stock opened at $37.80 on Wednesday. The stock has a 50-day moving average price of $37.77 and a two-hundred day moving average price of $37.10. Old Republic International Co. has a 12 month low of $29.51 and a 12 month high of $39.84. The company has a market capitalization of $9.34 billion, a PE ratio of 14.37 and a beta of 0.74. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, April 24th. The insurance provider reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.08. The firm had revenue of $2.06 billion for the quarter, compared to analyst estimates of $2.03 billion. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. The firm’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, June 6th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $1.16 annualized dividend and a dividend yield of 3.07%. Old Republic International’s payout ratio is 47.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ORI. Raymond James set a $42.00 price target on Old Republic International and gave the company an “outperform” rating in a research note on Monday, April 28th. Wall Street Zen raised Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 25th. Finally, Piper Sandler set a $42.00 target price on Old Republic International in a research report on Friday, April 25th.

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.