Mitsubishi UFJ Trust & Banking Corp Sells 25,334 Shares of Old Republic International Co. (NYSE:ORI)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Old Republic International Co. (NYSE:ORI) by 43.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,736 shares of the insurance provider’s stock after selling 25,334 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Old Republic International were worth $1,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ORI. Wilmington Savings Fund Society FSB acquired a new position in shares of Old Republic International in the 3rd quarter valued at approximately $28,000. Fairway Wealth LLC acquired a new stake in shares of Old Republic International in the 4th quarter valued at approximately $29,000. SBI Securities Co. Ltd. bought a new stake in shares of Old Republic International during the 4th quarter valued at approximately $34,000. Core Alternative Capital acquired a new position in Old Republic International during the 4th quarter worth approximately $36,000. Finally, Synergy Asset Management LLC bought a new position in shares of Old Republic International in the 4th quarter valued at $39,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Old Republic International Stock Performance

Shares of ORI opened at $39.64 on Wednesday. The firm’s fifty day simple moving average is $37.17 and its two-hundred day simple moving average is $36.50. Old Republic International Co. has a 12 month low of $28.59 and a 12 month high of $39.84. The company has a current ratio of 0.62, a quick ratio of 0.28 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $9.84 billion, a P/E ratio of 15.07 and a beta of 0.83.

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

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were paid 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 annualized dividend and a dividend yield of 2.93%. Old Republic International’s dividend payout ratio (DPR) is currently 44.11%.

Insider Buying and Selling at Old Republic International

In related news, SVP Jeffrey Lange sold 1,098 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $36.56, for a total value of $40,142.88. Following the completion of the sale, the senior vice president now directly owns 34,679 shares of the company’s stock, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Craig R. Smiddy sold 5,296 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the sale, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at $5,335,369.20. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,039 shares of company stock valued at $1,580,733. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on ORI. StockNews.com downgraded Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler upped their price target on Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday.

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.