Evolution Advisers Inc. Lowers Holdings in Old Republic International Co. (NYSE:ORI)

Evolution Advisers Inc. decreased its stake in Old Republic International Co. (NYSE:ORI) by 9.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,671 shares of the insurance provider’s stock after selling 1,038 shares during the quarter. Evolution Advisers Inc.’s holdings in Old Republic International were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ORI. Allworth Financial LP boosted its position in Old Republic International by 1,069.4% during the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock worth $27,000 after purchasing an additional 909 shares in the last quarter. BKM Wealth Management LLC purchased a new position in Old Republic International during the fourth quarter worth approximately $29,000. Naples Money Management LLC acquired a new position in shares of Old Republic International during the fourth quarter valued at approximately $34,000. GAMMA Investing LLC acquired a new position in shares of Old Republic International during the fourth quarter valued at approximately $34,000. Finally, Blue Trust Inc. raised its holdings in shares of Old Republic International by 62.7% during the fourth quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock valued at $37,000 after acquiring an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling

In other Old Republic International news, Director Barbara Adachi acquired 1,925 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was bought at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the transaction, the director now owns 7,845 shares of the company’s stock, valued at approximately $224,367. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Carolyn Monroe sold 6,528 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $27.71, for a total transaction of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares in the company, valued at $979,271.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Barbara Adachi purchased 1,925 shares of the stock in a transaction dated Friday, February 16th. The shares were purchased at an average price of $28.60 per share, with a total value of $55,055.00. Following the completion of the transaction, the director now owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ORI. Piper Sandler increased their target price on Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Old Republic International Price Performance

Shares of NYSE:ORI traded down $0.28 during midday trading on Thursday, hitting $30.02. The company had a trading volume of 3,554,796 shares, compared to its average volume of 1,730,845. Old Republic International Co. has a twelve month low of $24.03 and a twelve month high of $31.22. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.25 and a quick ratio of 0.25. The stock has a market cap of $8.27 billion, a price-to-earnings ratio of 14.30 and a beta of 0.81. The business’s 50-day simple moving average is $29.55 and its 200-day simple moving average is $28.88.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.69 EPS for the quarter, missing the consensus estimate of $0.72 by ($0.03). Old Republic International had a net margin of 8.25% and a return on equity of 12.10%. The company had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.95 billion. On average, research analysts predict that Old Republic International Co. will post 2.7 earnings per share for the current year.

Old Republic International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Monday, March 11th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 3.53%. This is a positive change from Old Republic International’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, March 8th. Old Republic International’s dividend payout ratio is presently 50.48%.

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.