Miller Howard Investments Inc. NY Sells 266,887 Shares of Old Republic International Co. (NYSE:ORI)

Miller Howard Investments Inc. NY lessened its holdings in shares of Old Republic International Co. (NYSE:ORI - Free Report) by 11.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,049,247 shares of the insurance provider's stock after selling 266,887 shares during the period. Old Republic International accounts for about 2.4% of Miller Howard Investments Inc. NY's portfolio, making the stock its 10th largest position. Miller Howard Investments Inc. NY owned 0.81% of Old Republic International worth $74,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allworth Financial LP increased its stake in shares of Old Republic International by 161.9% in the 3rd quarter. Allworth Financial LP now owns 728 shares of the insurance provider's stock valued at $26,000 after buying an additional 450 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Old Republic International in the 3rd quarter valued at about $28,000. V Square Quantitative Management LLC acquired a new stake in Old Republic International during the 3rd quarter worth $31,000. Synergy Asset Management LLC bought a new stake in Old Republic International in the fourth quarter valued at about $39,000. Finally, Crews Bank & Trust acquired a new stake in shares of Old Republic International in the 4th quarter valued at approximately $40,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the transaction, the senior vice president now directly owns 34,679 shares of the company's stock, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Carolyn Monroe sold 9,188 shares of the firm's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the completion of the transaction, the senior vice president now owns 33,556 shares of the company's stock, valued at approximately $1,219,760.60. This represents a 21.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Old Republic International Stock Down 0.9 %

Shares of ORI stock traded down $0.31 during trading hours on Wednesday, hitting $35.88. 884,934 shares of the company were exchanged, compared to its average volume of 1,134,780. The company has a market capitalization of $9.10 billion, a PE ratio of 13.64 and a beta of 0.88. Old Republic International Co. has a 52 week low of $28.20 and a 52 week high of $39.27. The business has a 50 day moving average of $36.09 and a two-hundred day moving average of $35.82. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28.

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 (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%. Analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

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 $2.00 dividend. The ex-dividend date of this dividend was Friday, January 3rd. Old Republic International's payout ratio is 40.30%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ORI shares. StockNews.com lowered Old Republic International from a "strong-buy" rating to a "buy" rating in a report on Saturday, February 1st. Piper Sandler lifted their price objective on Old Republic International from $36.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, October 21st.

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.