Victory Capital Management Inc. Sells 799,680 Shares of Old Republic International Co. (NYSE:ORI)

Victory Capital Management Inc. decreased its stake in shares of Old Republic International Co. (NYSE:ORI) by 5.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 13,926,339 shares of the insurance provider’s stock after selling 799,680 shares during the quarter. Victory Capital Management Inc. owned 4.97% of Old Republic International worth $409,434,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Allworth Financial LP grew its position in Old Republic International by 1,069.4% during the third quarter. Allworth Financial LP now owns 994 shares of the insurance provider’s stock worth $27,000 after buying an additional 909 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Old Republic International during the 4th quarter worth approximately $29,000. Naples Money Management LLC bought a new stake in shares of Old Republic International during the fourth quarter valued at approximately $34,000. GAMMA Investing LLC acquired a new position in shares of Old Republic International in the fourth quarter valued at $34,000. Finally, Blue Trust Inc. lifted its position in Old Republic International by 62.7% in the fourth quarter. Blue Trust Inc. now owns 1,365 shares of the insurance provider’s stock worth $37,000 after purchasing an additional 526 shares during the period. Institutional investors and hedge funds own 70.92% of the company’s stock.

Wall Street Analysts Forecast Growth

ORI has been the topic of several analyst reports. Piper Sandler boosted their price target on shares of Old Republic International from $32.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 1st. StockNews.com raised shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Friday, April 26th.

Insider Transactions at Old Republic International

In other news, Director Barbara Adachi bought 1,925 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was acquired at an average price of $28.60 per share, for a total transaction of $55,055.00. Following the transaction, the director now directly owns 7,845 shares of the company’s stock, valued at approximately $224,367. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, SVP Carolyn Monroe sold 6,528 shares of Old Republic International stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $27.71, for a total value of $180,890.88. Following the completion of the transaction, the senior vice president now directly owns 35,340 shares of the company’s stock, valued at $979,271.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Barbara Adachi purchased 1,925 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were bought at an average cost of $28.60 per share, for a total transaction of $55,055.00. Following the completion of the purchase, the director now directly owns 7,845 shares of the company’s stock, valued at $224,367. The disclosure for this purchase can be found here. 0.78% of the stock is owned by insiders.

Old Republic International Price Performance

ORI stock traded up $0.45 during trading on Wednesday, hitting $30.31. The company had a trading volume of 820,995 shares, compared to its average volume of 1,730,831. The company has a fifty day moving average price of $29.64 and a two-hundred day moving average price of $28.97. Old Republic International Co. has a fifty-two week low of $24.17 and a fifty-two week high of $31.22. The company has a market cap of $8.35 billion, a P/E ratio of 11.78 and a beta of 0.81. The company has a current ratio of 1.28, a quick ratio of 0.25 and a debt-to-equity ratio of 0.31.

Old Republic International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Monday, March 11th were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend was Friday, March 8th. This is an increase from Old Republic International’s previous quarterly dividend of $0.25. Old Republic International’s payout ratio is currently 41.25%.

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.