Bank of Nova Scotia decreased its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 81.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,182 shares of the insurance provider's stock after selling 36,485 shares during the quarter. Bank of Nova Scotia's holdings in Old Republic International were worth $296,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Stifel Financial Corp boosted its stake in shares of Old Republic International by 1.4% during the third quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider's stock worth $1,236,000 after buying an additional 495 shares during the period. Barclays PLC raised its stake in Old Republic International by 51.3% during the 3rd quarter. Barclays PLC now owns 272,914 shares of the insurance provider's stock valued at $9,665,000 after acquiring an additional 92,591 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Old Republic International during the 3rd quarter worth approximately $531,000. Wilmington Savings Fund Society FSB acquired a new stake in Old Republic International during the 3rd quarter worth approximately $28,000. Finally, Destination Wealth Management purchased a new position in shares of Old Republic International in the 3rd quarter valued at approximately $217,000. Institutional investors and hedge funds own 70.92% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently commented on ORI. StockNews.com cut Old Republic International from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler boosted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Tuesday, April 1st.
Check Out Our Latest Stock Analysis on ORI
Old Republic International Trading Up 0.3 %
Shares of ORI traded up $0.12 during mid-day trading on Friday, reaching $37.83. The company had a trading volume of 909,728 shares, compared to its average volume of 1,261,552. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 14.38 and a beta of 0.68. The firm has a fifty day simple moving average of $37.36 and a 200-day simple moving average of $36.65. Old Republic International Co. has a fifty-two week low of $28.65 and a fifty-two week high of $39.84.
Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.90 EPS for the quarter, topping the consensus estimate 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, sell-side analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current fiscal year.
Old Republic International Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were given a $0.29 dividend. The ex-dividend date was Monday, March 10th. This is a positive change from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.07%. Old Republic International's dividend payout ratio (DPR) is 44.11%.
Insider Buying and Selling
In other Old Republic International news, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total transaction of $333,983.80. Following the sale, the senior vice president now directly owns 33,556 shares in the company, valued at $1,219,760.60. The trade was a 21.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas Dare sold 27,457 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total value of $1,002,180.50. Following the transaction, the vice president now owns 46,556 shares of the company's stock, valued at approximately $1,699,294. This trade represents a 37.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,039 shares of company stock valued at $1,580,733. Corporate insiders own 1.10% of the company's stock.
Old Republic International Company Profile
(
Free Report)
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.
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