Pettinga Financial Advisors LLC Cuts Stock Holdings in Old Republic International Co. (NYSE:ORI)

Pettinga Financial Advisors LLC trimmed its holdings in shares of Old Republic International Co. (NYSE:ORI) by 21.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,323 shares of the insurance provider’s stock after selling 21,123 shares during the period. Pettinga Financial Advisors LLC’s holdings in Old Republic International were worth $2,406,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ORI. Dumont & Blake Investment Advisors LLC boosted its position in Old Republic International by 1.0% during the 1st quarter. Dumont & Blake Investment Advisors LLC now owns 57,263 shares of the insurance provider’s stock valued at $1,759,000 after acquiring an additional 549 shares in the last quarter. Viking Fund Management LLC boosted its position in Old Republic International by 9.1% during the 1st quarter. Viking Fund Management LLC now owns 120,000 shares of the insurance provider’s stock valued at $3,686,000 after acquiring an additional 10,000 shares in the last quarter. Ridgewood Investments LLC boosted its position in Old Republic International by 1.6% during the 1st quarter. Ridgewood Investments LLC now owns 50,188 shares of the insurance provider’s stock valued at $1,542,000 after acquiring an additional 790 shares in the last quarter. Richard P Slaughter Associates Inc boosted its position in Old Republic International by 2.4% during the 1st quarter. Richard P Slaughter Associates Inc now owns 53,807 shares of the insurance provider’s stock valued at $1,653,000 after acquiring an additional 1,236 shares in the last quarter. Finally, Alaska Permanent Fund Corp boosted its position in Old Republic International by 8.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 474,904 shares of the insurance provider’s stock valued at $14,589,000 after acquiring an additional 38,188 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Old Republic International Trading Up 0.3 %

Shares of Old Republic International stock opened at $30.90 on Monday. The company has a fifty day moving average of $30.84 and a 200 day moving average of $29.81. Old Republic International Co. has a fifty-two week low of $24.75 and a fifty-two week high of $32.26. The company has a market capitalization of $8.40 billion, a P/E ratio of 12.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27.

Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 25th. The insurance provider reported $0.67 EPS for the quarter, beating 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 business had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.84 billion. On average, sell-side analysts anticipate that Old Republic International Co. will post 2.73 earnings per share for the current fiscal year.

Old Republic International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, June 4th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Tuesday, June 4th. Old Republic International’s dividend payout ratio (DPR) is currently 41.25%.

Analysts Set New Price Targets

ORI has been the topic of several analyst reports. Piper Sandler upped their price objective on 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 upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Friday, April 26th.

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.