Old Republic International Co. (NYSE:ORI) Shares Sold by M&T Bank Corp

M&T Bank Corp cut its stake in shares of Old Republic International Co. (NYSE:ORI) by 6.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,290,817 shares of the insurance provider’s stock after selling 83,492 shares during the quarter. M&T Bank Corp owned 0.42% of Old Republic International worth $21,054,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Old Republic International in the fourth quarter valued at $71,968,000. Miller Howard Investments Inc. NY lifted its holdings in Old Republic International by 37.1% in the first quarter. Miller Howard Investments Inc. NY now owns 2,302,627 shares of the insurance provider’s stock valued at $35,115,000 after acquiring an additional 622,642 shares during the period. Janus Henderson Group PLC lifted its holdings in Old Republic International by 460.6% in the fourth quarter. Janus Henderson Group PLC now owns 638,750 shares of the insurance provider’s stock valued at $14,289,000 after acquiring an additional 524,800 shares during the period. Ensign Peak Advisors Inc lifted its holdings in Old Republic International by 45.0% in the first quarter. Ensign Peak Advisors Inc now owns 1,600,464 shares of the insurance provider’s stock valued at $24,407,000 after acquiring an additional 496,500 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Old Republic International by 18.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 3,100,485 shares of the insurance provider’s stock valued at $47,282,000 after acquiring an additional 483,360 shares during the period. 74.16% of the stock is owned by hedge funds and other institutional investors.

ORI has been the subject of a number of research analyst reports. ValuEngine cut Old Republic International from a “hold” rating to a “sell” rating in a research report on Friday, May 1st. Raymond James dropped their price target on Old Republic International from $23.00 to $21.00 and set a “strong-buy” rating for the company in a research report on Monday, April 27th. Finally, Zacks Investment Research upgraded Old Republic International from a “sell” rating to a “strong-buy” rating and set a $19.00 price target for the company in a research report on Thursday, June 18th.

In related news, Director Aldo C. Zucaro bought 1,500 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were bought at an average cost of $18.22 per share, with a total value of $27,330.00. Following the completion of the transaction, the director now directly owns 1,305,080 shares of the company’s stock, valued at $23,778,557.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven J. Bateman purchased 2,500 shares of the company’s stock in a transaction that occurred on Thursday, July 30th. The shares were acquired at an average cost of $16.33 per share, for a total transaction of $40,825.00. Following the completion of the transaction, the director now directly owns 21,476 shares of the company’s stock, valued at approximately $350,703.08. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 12,900 shares of company stock valued at $199,034. 1.90% of the stock is owned by company insiders.

Old Republic International stock opened at $16.07 on Friday. The stock has a market cap of $4.89 billion, a PE ratio of 17.66 and a beta of 0.86. The stock has a 50-day moving average price of $16.27 and a 200 day moving average price of $17.79. Old Republic International Co. has a 52 week low of $11.88 and a 52 week high of $24.10. The company has a current ratio of 1.21, a quick ratio of 0.49 and a debt-to-equity ratio of 0.17.

Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, July 23rd. The insurance provider reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.03. Old Republic International had a return on equity of 9.87% and a net margin of 4.26%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same period in the previous year, the business earned $0.45 EPS. The business’s quarterly revenue was up 1.1% on a year-over-year basis. On average, equities analysts predict that Old Republic International Co. will post 1.7 EPS for the current year.

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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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