Avidian Wealth Enterprises LLC Sells 2,581 Shares of Old Republic International Co. (NYSE:ORI)

Avidian Wealth Enterprises LLC trimmed its stake in Old Republic International Co. (NYSE:ORI) by 19.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,480 shares of the insurance provider’s stock after selling 2,581 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Old Republic International were worth $379,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Core Alternative Capital bought a new stake in Old Republic International in the fourth quarter worth $36,000. Newbridge Financial Services Group Inc. bought a new stake in Old Republic International in the fourth quarter worth $203,000. Entropy Technologies LP bought a new stake in Old Republic International in the fourth quarter worth $2,702,000. Lecap Asset Management Ltd. bought a new stake in Old Republic International in the fourth quarter worth $284,000. Finally, Measured Wealth Private Client Group LLC boosted its holdings in Old Republic International by 83.2% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 19,083 shares of the insurance provider’s stock worth $691,000 after acquiring an additional 8,669 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ORI. Piper Sandler boosted their target price on Old Republic International from $36.00 to $37.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. StockNews.com downgraded Old Republic International from a “strong-buy” rating to a “buy” rating in a report on Saturday, February 1st.

Old Republic International Trading Up 1.6 %

Shares of NYSE:ORI opened at $36.51 on Friday. The company has a market cap of $9.26 billion, a P/E ratio of 13.88 and a beta of 0.88. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.62 and a quick ratio of 0.28. Old Republic International Co. has a 1 year low of $28.20 and a 1 year high of $39.27. The stock’s fifty day moving average price is $36.04 and its 200-day moving average price is $35.82.

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

Old Republic International Announces Dividend

The firm also recently declared a special dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were issued a dividend of $2.00 per share. The ex-dividend date of this dividend was Friday, January 3rd. Old Republic International’s payout ratio is currently 40.30%.

Insider Activity

In related news, SVP Jeffrey Lange sold 1,098 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $36.56, for a total transaction of $40,142.88. Following the completion of the sale, the senior vice president now owns 34,679 shares in the company, valued at approximately $1,267,864.24. This represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carolyn Monroe sold 9,188 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $36.35, for a total value of $333,983.80. Following the sale, the senior vice president now owns 33,556 shares of the company’s stock, valued at approximately $1,219,760.60. This trade represents a 21.50 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

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.