Legal & General Group Plc Sells 42,623 Shares of Old Republic International Co. (NYSE:ORI)

Legal & General Group Plc trimmed its stake in Old Republic International Co. (NYSE:ORI - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 532,796 shares of the insurance provider's stock after selling 42,623 shares during the quarter. Legal & General Group Plc owned approximately 0.21% of Old Republic International worth $19,282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Old Republic International in the fourth quarter worth $105,581,000. Invesco Ltd. increased its holdings in shares of Old Republic International by 26.4% in the 4th quarter. Invesco Ltd. now owns 2,349,942 shares of the insurance provider's stock valued at $85,044,000 after purchasing an additional 490,788 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Old Republic International in the fourth quarter worth approximately $67,054,000. JPMorgan Chase & Co. grew its position in Old Republic International by 4.7% during the fourth quarter. JPMorgan Chase & Co. now owns 891,112 shares of the insurance provider's stock valued at $32,249,000 after purchasing an additional 39,620 shares in the last quarter. Finally, Boston Financial Mangement LLC increased its stake in Old Republic International by 1.2% in the 4th quarter. Boston Financial Mangement LLC now owns 785,190 shares of the insurance provider's stock valued at $28,416,000 after buying an additional 9,011 shares during the period. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Stock Performance

Old Republic International stock 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 50 day moving average of $37.39 and a 200-day moving average of $36.66. Old Republic International Co. has a 52 week low of $28.65 and a 52 week high of $39.84. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. The firm has a market cap of $9.35 billion, a price-to-earnings ratio of 14.38 and a beta of 0.68.

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

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a dividend of $0.29 per share. The ex-dividend date was Monday, March 10th. This is a boost from Old Republic International's previous quarterly dividend of $0.27. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.07%. Old Republic International's payout ratio is currently 44.11%.

Insider Activity at Old Republic International

In related news, SVP Carolyn Monroe sold 9,188 shares of the company's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares of the company's stock, valued at $1,219,760.60. The trade was a 21.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas Dare sold 27,457 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $36.50, for a total transaction 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 represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,039 shares of company stock worth $1,580,733. 1.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ORI has been the topic of several recent analyst reports. Piper Sandler lifted their target price on shares of Old Republic International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Tuesday, April 1st. StockNews.com lowered Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

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.