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% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Atomi Financial Group Inc. increased its position in shares of Old Republic International by 4.1% during the fourth quarter. Atomi Financial Group Inc. now owns 7,714 shares of the insurance provider’s stock worth $279,000 after purchasing an additional 302 shares in the last quarter. Berry Wealth Group LP boosted its position in shares of Old Republic International by 5.2% during the 4th quarter. Berry Wealth Group LP now owns 6,251 shares of the insurance provider’s stock worth $226,000 after purchasing an additional 310 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Old Republic International by 0.4% in the third quarter. Integrated Wealth Concepts LLC now owns 83,723 shares of the insurance provider’s stock valued at $2,965,000 after buying an additional 315 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Old Republic International by 2.4% in the fourth quarter. UMB Bank n.a. now owns 17,229 shares of the insurance provider’s stock valued at $624,000 after purchasing an additional 408 shares during the period. Finally, Raymond James Trust N.A. increased its position in shares of Old Republic International by 1.8% during the third quarter. Raymond James Trust N.A. now owns 24,816 shares of the insurance provider’s stock worth $879,000 after acquiring an additional 429 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. StockNews.com lowered Old Republic International from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 1st.

Old Republic International Trading Up 0.5 %

NYSE:ORI opened at $36.31 on Thursday. The stock has a market cap 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 Co. has a one year low of $27.19 and a one year high of $39.27. The business’s 50-day simple moving average is $36.27 and its 200 day simple moving average is $35.69.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping 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%. As a group, sell-side analysts predict that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Announces Dividend

The company also recently announced a special dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, January 3rd were paid a dividend of $2.00 per share. The ex-dividend date was Friday, January 3rd. Old Republic International’s dividend payout ratio (DPR) is currently 40.30%.

Insider Transactions at Old Republic International

In other Old Republic International news, SVP Jeffrey Lange sold 1,098 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the transaction, the senior vice president now directly owns 34,679 shares in the company, valued at $1,267,864.24. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by insiders.

About Old Republic International

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.