Meritage Portfolio Management Sells 5,062 Shares of Old Republic International Co. (NYSE:ORI)

Meritage Portfolio Management reduced its stake in shares of Old Republic International Co. (NYSE:ORI) by 6.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 71,085 shares of the insurance provider’s stock after selling 5,062 shares during the quarter. Meritage Portfolio Management’s holdings in Old Republic International were worth $2,573,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in Old Republic International by 161.9% during the third quarter. Allworth Financial LP now owns 728 shares of the insurance provider’s stock valued at $26,000 after purchasing an additional 450 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Old Republic International during the 3rd quarter worth about $28,000. V Square Quantitative Management LLC acquired a new position in shares of Old Republic International during the 3rd quarter worth approximately $31,000. Synergy Asset Management LLC acquired a new stake in Old Republic International in the 4th quarter valued at about $39,000. Finally, Crews Bank & Trust acquired a new position in shares of Old Republic International during the 4th quarter worth approximately $40,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Old Republic International Price Performance

Old Republic International stock opened at $36.31 on Thursday. The stock’s 50 day moving average price is $36.27 and its two-hundred day moving average price is $35.69. Old Republic International Co. has a 52-week low of $27.19 and a 52-week high of $39.27. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 13.80 and a beta of 0.88. 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 posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, beating 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, equities analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current year.

Old Republic International Announces Dividend

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

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Jeffrey Lange sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the transaction, the senior vice president now owns 34,679 shares of the company’s stock, valued at $1,267,864.24. The trade was a 3.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.