Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Old Republic International Co. (NYSE:ORI) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 56,100 shares of the insurance provider’s stock, valued at approximately $1,203,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Dubuque Bank & Trust Co. bought a new position in shares of Old Republic International in the 1st quarter worth about $103,000. BB&T Securities LLC bought a new position in shares of Old Republic International in the 1st quarter worth about $208,000. Jump Trading LLC bought a new position in shares of Old Republic International in the 4th quarter worth about $227,000. Bank of Hawaii bought a new position in shares of Old Republic International in the 1st quarter worth about $237,000. Finally, HighVista Strategies LLC bought a new position in shares of Old Republic International in the 1st quarter worth about $251,000. Institutional investors and hedge funds own 74.25% of the company’s stock.
Several research analysts recently issued reports on the stock. ValuEngine lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Tuesday, March 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Old Republic International presently has a consensus rating of “Hold” and a consensus price target of $24.00.
NYSE:ORI opened at $20.06 on Wednesday. The stock has a market cap of $6.13 billion, a price-to-earnings ratio of 18.07 and a beta of 1.26. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.47 and a quick ratio of 0.47. Old Republic International Co. has a fifty-two week low of $17.92 and a fifty-two week high of $22.34.
Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, April 26th. The insurance provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.40 billion. Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.39 earnings per share. equities research analysts expect that Old Republic International Co. will post 1.7 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Tuesday, June 5th were paid a dividend of $0.195 per share. The ex-dividend date of this dividend was Monday, June 4th. This represents a $0.78 dividend on an annualized basis and a yield of 3.89%. Old Republic International’s dividend payout ratio is currently 70.27%.
In other Old Republic International news, VP Charles S. Boone sold 24,000 shares of the firm’s 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 sale, the vice president now directly owns 20,250 shares in the company, valued at approximately $431,325. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Arnold L. Steiner sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $21.16, for a total transaction of $846,400.00. Following the sale, the director now owns 91,599 shares of the company’s stock, valued at $1,938,234.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,900 shares of company stock valued at $2,555,790. 1.90% of the stock is owned by company insiders.
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. 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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