Old Republic International Corporation $ORI Shares Sold by Cherokee Insurance Co

Cherokee Insurance Co reduced its position in shares of Old Republic International Corporation (NYSE:ORI) by 19.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 66,000 shares of the insurance provider’s stock after selling 16,000 shares during the period. Cherokee Insurance Co’s holdings in Old Republic International were worth $2,803,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ORI. WJ Financial Advisors LLC purchased a new position in Old Republic International during the 3rd quarter valued at about $269,000. Abich Financial Wealth Management LLC acquired a new stake in shares of Old Republic International during the third quarter worth about $207,000. Assetmark Inc. boosted its stake in shares of Old Republic International by 19.9% in the third quarter. Assetmark Inc. now owns 145,238 shares of the insurance provider’s stock valued at $6,168,000 after purchasing an additional 24,059 shares during the period. Illinois Municipal Retirement Fund grew its holdings in shares of Old Republic International by 28.6% in the third quarter. Illinois Municipal Retirement Fund now owns 115,340 shares of the insurance provider’s stock valued at $4,898,000 after purchasing an additional 25,653 shares in the last quarter. Finally, Savvy Advisors Inc. purchased a new stake in Old Republic International during the 3rd quarter worth approximately $352,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Old Republic International Trading Down 0.1%

Shares of NYSE:ORI opened at $42.59 on Friday. Old Republic International Corporation has a 52 week low of $34.43 and a 52 week high of $46.76. The company’s 50 day moving average is $43.03 and its two-hundred day moving average is $41.78. The company has a market cap of $10.54 billion, a PE ratio of 12.56 and a beta of 0.75. The company has a current ratio of 0.64, a quick ratio of 0.26 and a debt-to-equity ratio of 0.27.

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

Old Republic International Dividend Announcement

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

Insider Activity at Old Republic International

In other 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 sale, the senior vice president 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on ORI shares. Piper Sandler reissued a “neutral” rating and issued a $38.00 price target (down previously from $51.00) on shares of Old Republic International in a research report on Thursday, January 22nd. Weiss Ratings reiterated a “buy (a)” rating on shares of Old Republic International in a research note on Wednesday, December 24th. Finally, Zacks Research cut Old Republic International from a “hold” rating to a “strong sell” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.50.

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. 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.