Old Republic International Co. (NYSE:ORI) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of Old Republic International Co. (NYSE:ORI) by 81.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,182 shares of the insurance provider’s stock after selling 36,485 shares during the period. Bank of Nova Scotia’s holdings in Old Republic International were worth $296,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in Old Republic International during the third quarter worth $28,000. Fairway Wealth LLC purchased a new stake in Old Republic International during the 4th quarter worth about $29,000. SBI Securities Co. Ltd. acquired a new position in Old Republic International in the 4th quarter valued at about $34,000. Core Alternative Capital purchased a new position in Old Republic International in the 4th quarter valued at about $36,000. Finally, Synergy Asset Management LLC acquired a new stake in shares of Old Republic International during the 4th quarter worth about $39,000. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Old Republic International

In other Old Republic International news, VP Thomas Dare sold 27,457 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $36.50, for a total transaction of $1,002,180.50. Following the completion of the sale, the vice president now directly owns 46,556 shares in the company, valued at $1,699,294. The trade was a 37.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $38.60, for a total transaction of $204,425.60. Following the completion of the transaction, the chief executive officer now directly owns 138,222 shares in the company, valued at approximately $5,335,369.20. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,039 shares of company stock valued at $1,580,733. Company insiders own 1.00% of the company’s stock.

Old Republic International Stock Up 0.2 %

ORI opened at $37.73 on Wednesday. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 14.35 and a beta of 0.68. Old Republic International Co. has a 12 month low of $28.59 and a 12 month high of $39.84. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. The business has a 50-day moving average of $37.30 and a two-hundred day moving average of $36.62.

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

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.29 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.16 dividend on an annualized basis and a yield of 3.07%. This is a boost from Old Republic International’s previous quarterly dividend of $0.27. Old Republic International’s dividend payout ratio (DPR) is presently 44.11%.

Analyst Ratings Changes

A number of research firms have recently weighed in on ORI. Piper Sandler boosted their price objective on shares of Old Republic International from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, April 1st. StockNews.com lowered Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

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.