Commonwealth Equity Services LLC trimmed its stake in Old Republic International Co. (NYSE:ORI) by 8.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,830 shares of the insurance provider’s stock after selling 8,321 shares during the period. Commonwealth Equity Services LLC’s holdings in Old Republic International were worth $1,948,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the company. Dubuque Bank & Trust Co. purchased a new stake in Old Republic International in the 1st quarter worth $103,000. BB&T Securities LLC purchased a new stake in Old Republic International in the 1st quarter worth $208,000. Jump Trading LLC purchased a new stake in Old Republic International in the 4th quarter worth $227,000. Bank of Hawaii purchased a new stake in Old Republic International in the 1st quarter worth $237,000. Finally, Jane Street Group LLC purchased a new stake in Old Republic International in the 4th quarter worth $260,000. Hedge funds and other institutional investors own 74.25% of the company’s stock.
Old Republic International opened at $20.40 on Friday, according to MarketBeat. Old Republic International Co. has a 52 week low of $17.92 and a 52 week high of $22.34. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 18.38 and a beta of 1.26. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.19.
Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.01). Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The company had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same period last year, the company earned $0.39 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. sell-side analysts forecast that Old Republic International Co. will post 1.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend was Monday, June 4th. Old Republic International’s dividend payout ratio (DPR) is presently 70.27%.
In related news, Director Spencer Leroy III sold 24,400 shares of the stock in a transaction dated Thursday, June 7th. The shares were sold at an average price of $21.35, for a total value of $520,940.00. Following the completion of the transaction, the director now owns 69,099 shares of the company’s stock, valued at approximately $1,475,263.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Charles S. Boone sold 24,000 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $21.30, for a total transaction of $511,200.00. Following the completion of the transaction, the vice president now directly owns 20,250 shares of the company’s stock, valued at approximately $431,325. The disclosure for this sale can be found here. Insiders have sold a total of 119,900 shares of company stock valued at $2,555,790 in the last three months. Insiders own 2.00% of the company’s stock.
ORI has been the subject of a number of analyst reports. ValuEngine upgraded Old Republic International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $24.00.
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. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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