Summit Investment Advisors Inc. Sells 10,115 Shares of Old Republic International Co. (NYSE:ORI)

Summit Investment Advisors Inc. cut its holdings in Old Republic International Co. (NYSE:ORI - Free Report) by 7.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,435 shares of the insurance provider's stock after selling 10,115 shares during the period. Summit Investment Advisors Inc.'s holdings in Old Republic International were worth $4,359,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. HighTower Advisors LLC grew its position 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 valued at $1,767,000 after purchasing an additional 1,476 shares in the last quarter. Stifel Financial Corp grew its holdings 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 buying an additional 495 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in Old Republic International by 40.7% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 22,764 shares of the insurance provider's stock valued at $806,000 after buying an additional 6,589 shares in the last quarter. Barclays PLC boosted its position in shares of Old Republic International by 51.3% in the third 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 period. Finally, Sanctuary Advisors LLC grew its stake in Old Republic International by 0.7% during the third quarter. Sanctuary Advisors LLC now owns 120,122 shares of the insurance provider's stock valued at $4,637,000 after acquiring an additional 816 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ORI. StockNews.com lowered Old Republic International from a "buy" rating to a "hold" rating in a research note 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 Transactions at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares of the company's stock, valued at approximately $5,335,369.20. The trade was a 3.69 % 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, SVP Carolyn Monroe sold 9,188 shares of Old Republic International stock in a transaction dated Tuesday, February 4th. The shares were 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 43,039 shares of company stock worth $1,580,733. Insiders own 1.00% of the company's stock.

Old Republic International Price Performance

NYSE ORI traded up $0.09 during trading hours on Tuesday, reaching $37.73. 997,007 shares of the stock traded hands, compared to its average volume of 1,275,473. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The stock has a 50 day simple moving average of $37.30 and a two-hundred day simple moving average of $36.62. Old Republic International Co. has a 1 year low of $28.59 and a 1 year high of $39.84. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 14.35 and a beta of 0.68.

Old Republic International (NYSE:ORI - Get Free Report) last announced its quarterly earnings data 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 net margin of 10.36% and a return on equity of 20.32%. On average, analysts predict 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 represents a $1.16 annualized dividend and a yield of 3.07%. This is an increase from Old Republic International's previous quarterly dividend of $0.27. Old Republic International's payout ratio is presently 44.11%.

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.