Bank of Montreal Can Sells 2,549 Shares of Old Republic International Corporation $ORI

Bank of Montreal Can decreased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 6.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,158 shares of the insurance provider’s stock after selling 2,549 shares during the period. Bank of Montreal Can’s holdings in Old Republic International were worth $1,505,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Burney Co. boosted its holdings in Old Republic International by 0.3% during the 2nd quarter. Burney Co. now owns 89,901 shares of the insurance provider’s stock worth $3,456,000 after acquiring an additional 276 shares during the last quarter. Simon Quick Advisors LLC lifted its position in shares of Old Republic International by 62.8% during the second quarter. Simon Quick Advisors LLC now owns 12,533 shares of the insurance provider’s stock valued at $482,000 after purchasing an additional 4,835 shares in the last quarter. Strs Ohio lifted its position in shares of Old Republic International by 6.0% during the second quarter. Strs Ohio now owns 84,973 shares of the insurance provider’s stock valued at $3,266,000 after purchasing an additional 4,784 shares in the last quarter. Impact Partnership Wealth LLC boosted its holdings in Old Republic International by 6.9% during the second quarter. Impact Partnership Wealth LLC now owns 15,517 shares of the insurance provider’s stock worth $596,000 after purchasing an additional 1,008 shares during the last quarter. Finally, MeadowBrook Investment Advisors LLC bought a new stake in Old Republic International in the 2nd quarter worth about $163,000. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

NYSE ORI opened at $43.46 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.64 and a debt-to-equity ratio of 0.25. The company has a market cap of $10.76 billion, a PE ratio of 14.54 and a beta of 0.79. Old Republic International Corporation has a 52 week low of $33.00 and a 52 week high of $44.00. The firm’s 50-day simple moving average is $41.27 and its two-hundred day simple moving average is $38.98.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Friday, October 24th. The insurance provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.28 billion. Old Republic International had a net margin of 9.53% and a return on equity of 17.11%. Research analysts predict that Old Republic International Corporation will post 3.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on ORI. Piper Sandler decreased their price objective on shares of Old Republic International from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Friday, October 24th. Weiss Ratings reaffirmed a “buy (a-)” rating on shares of Old Republic International in a research report on Wednesday, October 8th. Finally, Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and lifted their price target for the stock from $43.00 to $47.00 in a report on Monday, September 22nd. Two analysts have rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Buy” and a consensus target price of $46.50.

Insiders Place Their Bets

In other Old Republic International news, EVP Stephen J. Oberst sold 4,797 shares of the stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $39.29, for a total transaction of $188,474.13. Following the sale, the executive vice president owned 54,661 shares in the company, valued at $2,147,630.69. This represents a 8.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Therace Risch purchased 1,000 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was bought at an average cost of $39.14 per share, with a total value of $39,140.00. Following the completion of the acquisition, the director directly owned 10,625 shares of the company’s stock, valued at approximately $415,862.50. This trade represents a 10.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.10% of the company’s stock.

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.