Goldman Sachs Group Inc. Trims Holdings in Old Republic International Co. (NYSE:ORI)

Goldman Sachs Group Inc. cut its holdings in Old Republic International Co. (NYSE:ORI) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,608,163 shares of the insurance provider’s stock after selling 73,757 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.57% of Old Republic International worth $47,280,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BKM Wealth Management LLC purchased a new stake in shares of Old Republic International in the 4th quarter worth about $29,000. Naples Money Management LLC purchased a new stake in Old Republic International during the 4th quarter valued at about $34,000. GAMMA Investing LLC purchased a new stake in Old Republic International during the 4th quarter valued at about $34,000. Blue Trust Inc. grew its position in Old Republic International by 62.7% during the 4th quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after purchasing an additional 526 shares during the last quarter. Finally, Global Retirement Partners LLC grew its position in Old Republic International by 526.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,321 shares of the insurance provider’s stock valued at $39,000 after purchasing an additional 1,110 shares during the last quarter. 70.92% of the stock is owned by hedge funds and other institutional investors.

Old Republic International Price Performance

ORI opened at $30.27 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market capitalization of $8.23 billion, a P/E ratio of 11.78 and a beta of 0.83. The company’s 50-day simple moving average is $30.62 and its two-hundred day simple moving average is $29.72. Old Republic International Co. has a 52-week low of $24.17 and a 52-week high of $32.26.

Old Republic International (NYSE:ORI) last issued its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. Old Republic International had a net margin of 9.52% and a return on equity of 12.15%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.84 billion. As a group, analysts predict that Old Republic International Co. will post 2.73 EPS for the current year.

Old Republic International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.50%. The ex-dividend date was Tuesday, June 4th. Old Republic International’s dividend payout ratio (DPR) is presently 41.25%.

Insider Transactions at Old Republic International

In other Old Republic International news, Director Therace Risch acquired 6,086 shares of the stock in a transaction dated Tuesday, April 30th. The shares were purchased at an average price of $29.77 per share, for a total transaction of $181,180.22. Following the purchase, the director now directly owns 6,086 shares of the company’s stock, valued at $181,180.22. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Old Republic International news, VP Thomas Dare sold 1,292 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $30.95, for a total transaction of $39,987.40. Following the completion of the sale, the vice president now directly owns 47,764 shares of the company’s stock, valued at approximately $1,478,295.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Therace Risch acquired 6,086 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were bought at an average cost of $29.77 per share, with a total value of $181,180.22. Following the completion of the acquisition, the director now owns 6,086 shares in the company, valued at $181,180.22. The disclosure for this purchase can be found here. Insiders have sold 9,172 shares of company stock worth $282,286 in the last quarter. Company insiders own 0.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Piper Sandler increased their price objective on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 1st. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

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.