Old Republic International Corporation $ORI Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its position in Old Republic International Corporation (NYSE:ORI) by 5.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 656,306 shares of the insurance provider’s stock after selling 40,294 shares during the quarter. Allianz Asset Management GmbH’s holdings in Old Republic International were worth $27,873,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC raised its stake in Old Republic International by 55.7% in the 2nd quarter. AQR Capital Management LLC now owns 5,779,156 shares of the insurance provider’s stock valued at $221,457,000 after purchasing an additional 2,066,965 shares during the last quarter. Hamlin Capital Management LLC grew its holdings in shares of Old Republic International by 0.3% during the second quarter. Hamlin Capital Management LLC now owns 5,207,228 shares of the insurance provider’s stock worth $200,166,000 after buying an additional 15,920 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Old Republic International by 2,840.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,926,606 shares of the insurance provider’s stock worth $166,763,000 after buying an additional 3,793,085 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Old Republic International by 19.1% in the third quarter. Bank of New York Mellon Corp now owns 3,585,558 shares of the insurance provider’s stock valued at $152,279,000 after buying an additional 575,778 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Old Republic International in the second quarter worth about $115,071,000. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ORI has been the subject of several research reports. Piper Sandler reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $51.00) on shares of Old Republic International in a research note on Thursday, January 22nd. Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a report on Friday, January 23rd. Finally, Weiss Ratings reaffirmed a “buy (a)” rating on shares of Old Republic International in a report on Wednesday, December 24th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $42.50.

Insider Activity

In related news, SVP Carolyn Monroe sold 5,526 shares of the firm’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $39.28, for a total transaction of $217,061.28. Following the completion of the sale, the senior vice president directly owned 27,875 shares of the company’s stock, valued at approximately $1,094,930. This trade represents a 16.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.10% of the company’s stock.

Old Republic International Stock Performance

Old Republic International stock opened at $41.35 on Friday. The firm has a 50 day simple moving average of $43.31 and a 200-day simple moving average of $41.50. The stock has a market cap of $10.23 billion, a price-to-earnings ratio of 12.20 and a beta of 0.75. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.64 and a quick ratio of 0.26. Old Republic International Corporation has a 1-year low of $34.43 and a 1-year high of $46.76.

Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 22nd. The insurance provider reported $0.74 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.15). The firm had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.31 billion. Old Republic International had a net margin of 10.24% and a return on equity of 16.21%. During the same period in the previous year, the firm posted $0.90 EPS. On average, analysts expect that Old Republic International Corporation will post 3.17 EPS for the current year.

Old Republic International Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 14th. Stockholders of record on Friday, January 2nd were issued a dividend of $2.50 per share. The ex-dividend date was Friday, January 2nd. Old Republic International’s dividend payout ratio is currently 34.22%.

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.