Shelton Capital Management Reduces Stock Holdings in Old Republic International Co. (NYSE:ORI)

Shelton Capital Management lessened its stake in Old Republic International Co. (NYSE:ORI) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,034 shares of the insurance provider’s stock after selling 822 shares during the quarter. Shelton Capital Management’s holdings in Old Republic International were worth $328,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ORI. Stonebridge Capital Advisors LLC increased its stake in Old Republic International by 130.9% during the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,411 shares of the insurance provider’s stock worth $34,000 after buying an additional 800 shares during the period. Atlas Capital Advisors LLC purchased a new position in Old Republic International in the second quarter valued at about $34,000. Denali Advisors LLC grew its stake in Old Republic International by 91.2% during the 2nd quarter. Denali Advisors LLC now owns 1,591 shares of the insurance provider’s stock valued at $40,000 after purchasing an additional 759 shares in the last quarter. Belpointe Asset Management LLC increased its holdings in Old Republic International by 43.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,676 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 510 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in shares of Old Republic International in the 1st quarter valued at approximately $59,000. Institutional investors and hedge funds own 70.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ORI. Piper Sandler decreased their price target on shares of Old Republic International from $31.00 to $30.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Thursday, November 16th. Finally, Raymond James lifted their price target on Old Republic International from $29.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday, October 30th.

Old Republic International Stock Performance

Old Republic International stock opened at $28.36 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. Old Republic International Co. has a 12 month low of $23.30 and a 12 month high of $29.89. The company has a fifty day moving average price of $27.39 and a two-hundred day moving average price of $26.49. The company has a market cap of $7.95 billion, a PE ratio of 9.03 and a beta of 0.79.

Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, October 26th. The insurance provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.63 by $0.09. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.89 billion. Old Republic International had a net margin of 12.01% and a return on equity of 12.98%. Research analysts expect that Old Republic International Co. will post 2.76 earnings per share for the current year.

Old Republic International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were given a dividend of $0.245 per share. This represents a $0.98 dividend on an annualized basis and a dividend yield of 3.46%. This is a boost from Old Republic International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Friday, September 1st. Old Republic International’s dividend payout ratio is presently 31.21%.

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 the Republic Financial Indemnity Group Run-off Business.