Prudential Financial Inc. Trims Stake in Old Republic International Co. (NYSE:ORI)

Prudential Financial Inc. reduced its position in Old Republic International Co. (NYSE:ORI - Free Report) by 30.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,849 shares of the insurance provider's stock after selling 8,425 shares during the quarter. Prudential Financial Inc.'s holdings in Old Republic International were worth $682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. bought a new position in Old Republic International in the 3rd quarter worth $378,000. Verition Fund Management LLC bought a new position in shares of Old Republic International in the third quarter worth about $561,000. HighTower Advisors LLC boosted its stake in shares of Old Republic International by 3.1% in the third quarter. HighTower Advisors LLC now owns 49,609 shares of the insurance provider's stock worth $1,767,000 after acquiring an additional 1,476 shares during the period. Janus Henderson Group PLC grew its position in shares of Old Republic International by 5.9% during the third quarter. Janus Henderson Group PLC now owns 120,303 shares of the insurance provider's stock worth $4,262,000 after purchasing an additional 6,664 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Old Republic International by 1.4% during the 3rd quarter. Stifel Financial Corp now owns 34,906 shares of the insurance provider's stock valued at $1,236,000 after purchasing an additional 495 shares during the period. 70.92% of the stock is owned by hedge funds and other institutional investors.

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Old Republic International Price Performance

Old Republic International stock traded up $0.45 during midday trading on Friday, reaching $37.03. 1,133,727 shares of the stock traded hands, compared to its average volume of 1,281,145. 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 Co. has a 12 month low of $28.59 and a 12 month high of $39.84. The stock's fifty day moving average is $37.25 and its 200-day moving average is $36.60. The stock has a market cap of $9.15 billion, a P/E ratio of 14.08 and a beta of 0.68.

Old Republic International (NYSE:ORI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The insurance provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.71 by $0.19. Old Republic International had a net margin of 10.36% and a return on equity of 20.32%. As a group, equities research analysts anticipate that Old Republic International Co. will post 3.17 EPS for the current year.

Old Republic International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were issued a $0.29 dividend. The ex-dividend date was Monday, March 10th. This is an increase 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 3.13%. Old Republic International's payout ratio is 44.11%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ORI shares. StockNews.com lowered shares of Old Republic International from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Piper Sandler raised their target price on shares of Old Republic International from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Tuesday, April 1st.

Insider Activity

In other 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 value of $333,983.80. Following the completion of the transaction, the senior vice president now owns 33,556 shares in the company, valued at approximately $1,219,760.60. The trade was a 21.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jeffrey Lange sold 1,098 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $36.56, for a total value of $40,142.88. Following the transaction, the senior vice president now directly owns 34,679 shares in the company, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,039 shares of company stock worth $1,580,733. 1.00% of the stock is currently owned by corporate insiders.

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.