Corebridge Financial Inc. Sells 17,330 Shares of Old Republic International Co. (NYSE:ORI)

Corebridge Financial Inc. reduced its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 6.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,976 shares of the insurance provider's stock after selling 17,330 shares during the period. Corebridge Financial Inc. owned about 0.10% of Old Republic International worth $9,553,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ORI. LPL Financial LLC increased its stake in shares of Old Republic International by 9.4% in the 4th quarter. LPL Financial LLC now owns 285,770 shares of the insurance provider's stock worth $10,342,000 after purchasing an additional 24,573 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Old Republic International in the fourth quarter worth about $2,609,000. Hillsdale Investment Management Inc. bought a new position in shares of Old Republic International in the fourth quarter worth about $774,000. Millstone Evans Group LLC purchased a new position in shares of Old Republic International during the 4th quarter valued at about $41,000. Finally, Teacher Retirement System of Texas grew its stake in shares of Old Republic International by 18.6% during the 4th quarter. Teacher Retirement System of Texas now owns 176,627 shares of the insurance provider's stock valued at $6,392,000 after acquiring an additional 27,733 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Old Republic International

In related news, SVP Carolyn Monroe sold 9,188 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now directly owns 33,556 shares in the company, valued at approximately $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the firm's 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 $1,699,294. This represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,039 shares of company stock worth $1,580,733. Insiders own 1.00% of the company's stock.

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Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Old Republic International Price Performance

ORI stock traded up $0.31 during trading on Monday, reaching $39.26. The company's stock had a trading volume of 1,731,570 shares, compared to its average volume of 1,282,480. The company's fifty day moving average is $37.10 and its 200-day moving average is $36.47. Old Republic International Co. has a 1 year low of $28.59 and a 1 year high of $39.55. The company has a market capitalization of $9.74 billion, a P/E ratio of 14.93 and a beta of 0.83. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28.

Old Republic International (NYSE:ORI - Get Free Report) last issued its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share (EPS) for the quarter, beating 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, research analysts expect that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 2.96%. This is a boost from Old Republic International's previous quarterly dividend of $0.27. The ex-dividend date was Monday, March 10th. Old Republic International's dividend payout ratio (DPR) is presently 44.11%.

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.