August 24, 2023 – Guggenheim Capital LLC, a leading investment management firm, has recently decreased its ownership in Old Republic International Co. (NYSE: ORI). According to the company’s 13F filing with the Securities and Exchange Commission (SEC), Guggenheim Capital LLC reduced its stake in ORI by 15.2% during the first quarter.
After selling approximately 74,083 shares during the quarter, Guggenheim Capital LLC now owns 413,036 shares of Old Republic International’s stock. At the end of the most recent quarter, this stake was estimated to be worth $10,314,000. Despite this reduction in ownership, Guggenheim Capital LLC still held approximately 0.14% of ORI’s outstanding shares.
Old Republic International Co., operating on the NYSE under the ticker symbol ORI, began trading on Thursday at $27.17 per share. The company currently boasts a market capitalization of $7.73 billion and exhibits a price-to-earnings (P/E) ratio of 10.29. With a beta value of 0.79, indicating lower volatility compared to the overall market average, ORI has been a stable investment option for risk-averse investors.
In terms of annual performance, Old Republic International has experienced a range between its 52-week low of $20.27 and its 52-week high of $29.89. This demonstrates notable stability within the organization’s stock price over the past year.
Examining Old Republic International’s financial health and liquidity ratios reveals further insights into its current standing in the market. The company maintains a quick ratio and current ratio both measuring at 0.57 – suggesting modest short-term liquidity capabilities – while maintaining a relatively low debt-to-equity ratio of 0.26.
Over the course of recent months, Old Republic International has shown consistency with its average values as the 50-day moving average currently stands at $26.22 and the 200-day moving average is reported at $25.58.
As of August 24, 2023, Guggenheim Capital LLC’s reduction in stake may indicate a strategic decision amid market fluctuations or a reallocation of assets within its portfolio. Investors and analysts closely monitoring ORI should continue to observe any future developments that may influence Old Republic International’s performance going forward.
This article provides an overview of Guggenheim Capital LLC’s decrease in ownership of Old Republic International Co. during the first quarter of 2023. Additionally, it highlights key figures related to ORI’s market capitalization, stock price performance, financial ratios, and moving averages for investors seeking a comprehensive evaluation of the company’s recent trends and position in the market.
Old Republic International Corporation
ORI
Strong Buy
Updated on: 24/08/2023
Institutional Investors Show Confidence in Old Republic International (ORI) with Notable Stock Movements
Institutional investors have recently made notable movements in shares of Old Republic International (ORI). Synovus Financial Corp, for instance, increased its position in the insurance provider by 3.0% during the fourth quarter. As a result, Synovus Financial Corp now owns 14,951 shares of ORI valued at $361,000 after purchasing an additional 437 shares in the last quarter.
Another institutional investor, Brandes Investment Partners LP, experienced a growth of 17.4% in its position in Old Republic International during the first quarter. Consequently, Brandes Investment Partners LP now owns an impressive 1,797,271 shares of ORI’s stock worth approximately $44,878,000 after acquiring an additional 266,491 shares in the last quarter.
Yet another institutional investor that acquired a new position in Old Republic International is Security National Bank of Sioux City Iowa IA. The bank purchased this position during the fourth quarter and it was estimated to be worth about $224,000.
Illinois Municipal Retirement Fund also participated actively in this dynamic market scenario by boosting its position in ORI by 40.8% during the first quarter. Currently owning 51,746 shares of the insurance provider’s stock valued at $1,292,000 after buying an additional 14,997 shares.
State of New Jersey Common Pension Fund D also followed suit and boosted its position on Old Republic International by 6.9%. Following this investment initiative from State of New Jersey Common Pension Fund D and other institutional investors alike shows their confidence towards ORI’s growth potential. The fund presently holds a total of 143,285 shares of ORI’s stock valued at $3,578 million.
Interestingly enough it has been revealed that as much as 70.66% of Old Republic International’s stock is currently owned by institutional investors.
Meanwhile Director Barbara Adachi made considerable gains through her investment endeavors and recently purchased 3,620 shares of ORI’s stock in a transaction on Wednesday, August 2nd. The shares were acquired at an average cost of $27.64 per share, resulting in a total value of $100,056.80. Adachi now holds a considerable number of stocks and her current holdings amount to 5,920 shares valued at $163,628.80.
This acquisition has been reported through the relevant legal channels including the Security and Exchange Commission (SEC) filing which is open for public access via this link.
In contrast to Adachi’s purchase, EVP Stephen J. Oberst decided to sell a significant portion of his holdings by divesting 26,500 shares of Old Republic International’s stock on Tuesday, August 1st. These shares were sold at an average price of $27.68 per share leading to a total value of $733,520.00 for the transaction.
Following this recent sale, Oberst’s holdings have decreased significantly as he currently owns 68,574 shares in the company worth approximately $1,898,128.32.
It is noteworthy that such transactions are made public through legal filings with the SEC and can be accessed by anyone interested through their official website.
These moves by corporate insiders are particularly interesting as they represent individuals who own 1% of Old Republic International’s overall stock.
Old Republic International last shared its quarterly earnings data on Thursday, July 27th where it was revealed that the insurance provider exceeded analysts’ consensus estimates with an EPS (earning per share) of $0.62 compared to the predicted estimate of $0.54 EPS for the quarter.
During that same quarter, Old Republic International declared revenue totaling to be around $1.83 billion while analysts had estimated a higher figure of approximately $1.93 billion in revenue for the period.
In terms of profitability indicators; Old Republic International showcased healthy figures with a net margin of 10.18% as well as a return on equity of 13.20%.
Looking ahead, sell-side analysts predict that Old Republic International Co. will post 2.6 earnings per share for the current fiscal year.
Several analyst reports have also emerged to shed further light on the performance and prospects of Old Republic International (ORI). StockNews.com recently assumed coverage on ORI and assigned a “buy” rating for the company, highlighting its growth potential.
Furthermore, Piper Sandler lifted its price target on shares of Old Republic International from $27.00 to $31.00 in a research note released on Friday, July 28th.
These positive assessments from industry analysts indicate that Old Republic International continues to attract favorable attention from investors and experts alike.
