Gideon Capital Advisors Inc. acquired a new stake in shares of Old Republic International Co. (NYSE:ORI) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,639 shares of the insurance provider’s stock, valued at approximately $272,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dubuque Bank & Trust Co. bought a new stake in shares of Old Republic International during the first quarter valued at approximately $103,000. BB&T Securities LLC bought a new stake in shares of Old Republic International during the first quarter valued at approximately $208,000. Clinton Group Inc. bought a new stake in shares of Old Republic International during the second quarter valued at approximately $221,000. Bank of Hawaii bought a new stake in shares of Old Republic International during the first quarter valued at approximately $237,000. Finally, HighVista Strategies LLC bought a new stake in shares of Old Republic International during the first quarter valued at approximately $251,000. Hedge funds and other institutional investors own 77.85% of the company’s stock.
In related news, VP Charles S. Boone sold 24,000 shares of the company’s stock in a transaction on Friday, May 25th. The stock was 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 owns 20,250 shares in the company, valued at $431,325. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arnold L. Steiner sold 40,000 shares of the company’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $21.16, for a total value of $846,400.00. Following the sale, the director now owns 91,599 shares of the company’s stock, valued at approximately $1,938,234.84. The disclosure for this sale can be found here. Insiders have sold 119,900 shares of company stock valued at $2,555,790 in the last quarter. 1.90% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Wednesday, August 1st. ValuEngine downgraded Old Republic International from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd.
Shares of Old Republic International stock opened at $22.17 on Wednesday. Old Republic International Co. has a 12-month low of $17.92 and a 12-month high of $22.34. The firm has a market cap of $6.64 billion, a P/E ratio of 20.04 and a beta of 1.20. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 0.19.
Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 26th. The insurance provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.07. Old Republic International had a return on equity of 7.53% and a net margin of 8.72%. The business had revenue of $1.56 billion during the quarter, compared to the consensus estimate of $1.49 billion. During the same quarter in the prior year, the company posted $0.35 earnings per share. equities analysts anticipate that Old Republic International Co. will post 1.75 EPS for the current year.
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. 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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