Steinberg Global Asset Management raised its holdings in shares of Old Republic International Co. (NYSE:ORI) by 9.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 224,432 shares of the insurance provider’s stock after purchasing an additional 18,630 shares during the quarter. Steinberg Global Asset Management’s holdings in Old Republic International were worth $4,814,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. American International Group Inc. boosted its holdings in Old Republic International by 0.3% during the fourth quarter. American International Group Inc. now owns 579,839 shares of the insurance provider’s stock worth $11,927,000 after buying an additional 1,910 shares in the last quarter. Tibra Equities Europe Ltd bought a new stake in Old Republic International during the first quarter worth approximately $686,000. Arizona State Retirement System boosted its stake in Old Republic International by 1.1% in the 4th quarter. Arizona State Retirement System now owns 204,185 shares of the insurance provider’s stock worth $4,200,000 after purchasing an additional 2,309 shares during the period. Advisors Preferred LLC acquired a new position in Old Republic International in the 4th quarter worth approximately $380,000. Finally, First Hawaiian Bank boosted its stake in Old Republic International by 12.0% in the 4th quarter. First Hawaiian Bank now owns 11,142 shares of the insurance provider’s stock worth $229,000 after purchasing an additional 1,190 shares during the period. Hedge funds and other institutional investors own 73.89% of the company’s stock.
A number of equities analysts recently commented on ORI shares. TheStreet raised shares of Old Republic International from a “c+” rating to a “b-” rating in a research note on Wednesday, March 20th. Zacks Investment Research lowered shares of Old Republic International from a “buy” rating to a “hold” rating in a research note on Wednesday, December 26th.
In other news, CEO Aldo C. Zucaro acquired 5,000 shares of the firm’s stock in a transaction that occurred on Monday, January 28th. The stock was purchased at an average price of $19.87 per share, with a total value of $99,350.00. Following the purchase, the chief executive officer now owns 1,260,080 shares of the company’s stock, valued at approximately $25,037,789.60. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders purchased a total of 5,600 shares of company stock valued at $111,828 in the last ninety days. Company insiders own 1.90% of the company’s stock.
Old Republic International stock traded down $0.05 during midday trading on Monday, reaching $20.99. The stock had a trading volume of 1,588,000 shares, compared to its average volume of 1,553,389. Old Republic International Co. has a twelve month low of $19.52 and a twelve month high of $23.05. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.46 and a current ratio of 0.46. The firm has a market capitalization of $6.38 billion, a price-to-earnings ratio of 11.28 and a beta of 0.90.
Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 24th. The insurance provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.03. Old Republic International had a net margin of 6.15% and a return on equity of 10.79%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business posted $0.33 EPS. The company’s revenue was up 1.1% on a year-over-year basis. Equities analysts forecast that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.
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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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