Delta Asset Management LLC TN Trims Stake in Old Republic International Co. (NYSE:ORI)

Delta Asset Management LLC TN lessened its stake in Old Republic International Co. (NYSE:ORI) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,570 shares of the insurance provider’s stock after selling 2,515 shares during the period. Delta Asset Management LLC TN’s holdings in Old Republic International were worth $3,386,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new stake in Old Republic International during the third quarter valued at $28,000. Fairway Wealth LLC acquired a new stake in shares of Old Republic International during the 4th quarter valued at about $29,000. SBI Securities Co. Ltd. acquired a new stake in shares of Old Republic International during the 4th quarter valued at about $34,000. Core Alternative Capital purchased a new position in shares of Old Republic International in the 4th quarter valued at about $36,000. Finally, Synergy Asset Management LLC acquired a new position in Old Republic International in the 4th quarter worth about $39,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Old Republic International Stock Performance

ORI opened at $38.64 on Thursday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 14.69 and a beta of 0.83. The firm’s fifty day simple moving average is $36.92 and its two-hundred day simple moving average is $36.37. The company has a quick ratio of 0.28, a current ratio of 0.62 and a debt-to-equity ratio of 0.28. Old Republic International Co. has a 52-week low of $28.59 and a 52-week high of $39.27.

Old Republic International (NYSE:ORI) last posted its quarterly earnings data 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 return on equity of 20.32% and a net margin of 10.36%. Equities analysts anticipate that Old Republic International Co. will post 3.17 earnings per share for the current fiscal year.

Old Republic International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a $0.29 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.27. This represents a $1.16 annualized dividend and a yield of 3.00%. The ex-dividend date of this dividend was Monday, March 10th. Old Republic International’s dividend payout ratio is currently 44.11%.

Insider Buying and Selling at Old Republic International

In other news, CEO Craig R. Smiddy sold 5,296 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $38.60, for a total value of $204,425.60. Following the transaction, the chief executive officer now directly owns 138,222 shares of the company’s stock, valued at approximately $5,335,369.20. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas Dare sold 27,457 shares of the company’s stock in a transaction dated 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 sale, the vice president now directly owns 46,556 shares of the company’s stock, valued at approximately $1,699,294. This represents a 37.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,039 shares of company stock worth $1,580,733. Corporate insiders own 1.00% of the company’s stock.

Old Republic International Company 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.