BlackRock Amends Old Republic Stake to 9.9% as of Dec 31, 2023
Ticker: ORI · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 74260
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, insurance
TL;DR
**BlackRock trimmed its stake in Old Republic to 9.9%.**
AI Summary
BlackRock, Inc. filed an amended Schedule 13G/A on January 24, 2024, indicating a change in its ownership of Old Republic International Corp. As of December 31, 2023, BlackRock reported beneficial ownership of 29,484,709 shares of Common Stock, representing 9.9% of the company's outstanding shares. This is an amendment (No. 16) to their previous filing, showing a slight decrease in their percentage ownership from a prior filing, which matters to investors as it signals BlackRock's adjusted confidence in the stock.
Why It Matters
This filing shows that a major institutional investor, BlackRock, has slightly reduced its proportional stake in Old Republic International Corp., which could be interpreted as a minor shift in their investment strategy or outlook for the company.
Risk Assessment
Risk Level: low — A minor adjustment by a large institutional investor like BlackRock typically doesn't pose a significant immediate risk to the stock.
Analyst Insight
Investors should note BlackRock's slightly reduced, but still substantial, stake in Old Republic International Corp. and consider if this aligns with their own investment thesis for the company, without overreacting to minor adjustments by large funds.
Key Numbers
- 29,484,709 — Shares Beneficially Owned (This is the total number of Old Republic International Corp. common shares BlackRock, Inc. reported owning as of December 31, 2023.)
- 9.9% — Percentage of Class (This represents BlackRock's total ownership percentage of Old Republic International Corp.'s common stock, indicating a significant but slightly reduced stake.)
- 16 — Amendment Number (This is the 16th amendment to BlackRock's Schedule 13G filing for Old Republic, showing ongoing adjustments to their position.)
Key Players & Entities
- BlackRock, Inc. (company) — the reporting person and institutional investor
- OLD REPUBLIC INTERNATIONAL CORP (company) — the issuer whose securities are being reported
- 29,484,709 (dollar_amount) — number of shares beneficially owned by BlackRock
- 9.9% (dollar_amount) — percentage of class beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 24, 2024 (date) — the filing date of the SC 13G/A
Forward-Looking Statements
- BlackRock will continue to hold a significant, but potentially fluctuating, stake in Old Republic International Corp. (BlackRock, Inc.) — medium confidence, target: December 31, 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock, Inc.?
This SC 13G/A filing (Amendment No: 16) by BlackRock, Inc. is to update its beneficial ownership of Common Stock in OLD REPUBLIC INTERNATIONAL CORP as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of OLD REPUBLIC INTERNATIONAL CORP does BlackRock, Inc. beneficially own according to this filing?
As of December 31, 2023, BlackRock, Inc. beneficially owns 29,484,709 shares of Common Stock in OLD REPUBLIC INTERNATIONAL CORP.
What percentage of OLD REPUBLIC INTERNATIONAL CORP's Common Stock does BlackRock, Inc. own?
BlackRock, Inc. beneficially owns 9.9% of the Common Stock of OLD REPUBLIC INTERNATIONAL CORP, as reported in this filing.
When was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated in the filing.
What is the CUSIP Number for the securities reported in this filing?
The CUSIP Number for the Common Stock of OLD REPUBLIC INTERNATIONAL CORP is 680223104, as indicated in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding OLD REPUBLIC INTERNATIONAL CORP (ORI).