United Capital Financial Advisers LLC acquired a new stake in Old Republic International Co. (NYSE:ORI) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 82,728 shares of the insurance provider’s stock, valued at approximately $1,851,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rothschild & Co. Asset Management US Inc. acquired a new position in Old Republic International during the 1st quarter valued at approximately $27,593,000. BlackRock Inc. boosted its position in Old Republic International by 3.1% during the 1st quarter. BlackRock Inc. now owns 32,854,067 shares of the insurance provider’s stock valued at $687,308,000 after purchasing an additional 998,205 shares during the period. Wells Fargo & Company MN boosted its position in Old Republic International by 55.1% during the 1st quarter. Wells Fargo & Company MN now owns 2,077,261 shares of the insurance provider’s stock valued at $43,457,000 after purchasing an additional 737,560 shares during the period. BNP Paribas Arbitrage SA boosted its position in Old Republic International by 565.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 477,736 shares of the insurance provider’s stock valued at $10,692,000 after purchasing an additional 405,900 shares during the period. Finally, First Trust Advisors LP boosted its position in Old Republic International by 55.8% during the 1st quarter. First Trust Advisors LP now owns 880,670 shares of the insurance provider’s stock valued at $18,424,000 after purchasing an additional 315,388 shares during the period. 74.80% of the stock is currently owned by institutional investors and hedge funds.
ORI stock traded down $0.10 during trading on Thursday, reaching $23.02. 36,193 shares of the company’s stock were exchanged, compared to its average volume of 1,440,505. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.17. Old Republic International Co. has a 1-year low of $19.55 and a 1-year high of $23.82. The company’s fifty day moving average price is $22.66 and its 200-day moving average price is $22.14. The firm has a market cap of $7.01 billion, a PE ratio of 12.40 and a beta of 0.78.
Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, July 25th. The insurance provider reported $0.45 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.45. Old Republic International had a return on equity of 10.21% and a net margin of 11.35%. The company had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. As a group, sell-side analysts expect that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.
The firm also recently declared a None dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, September 6th were given a dividend of $1.20 per share. The ex-dividend date was Thursday, September 5th. Old Republic International’s dividend payout ratio (DPR) is presently 43.01%.
In other Old Republic International news, VP Cheryl A. Jones sold 3,250 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $22.85, for a total transaction of $74,262.50. Following the completion of the transaction, the vice president now owns 10,738 shares in the company, valued at approximately $245,363.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Karl W. Mueller sold 20,760 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $23.25, for a total value of $482,670.00. Following the transaction, the chief financial officer now owns 52,539 shares of the company’s stock, valued at approximately $1,221,531.75. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 600 shares of company stock valued at $13,484 and have sold 39,510 shares valued at $910,953. Insiders own 1.90% of the company’s stock.
A number of research firms recently issued reports on ORI. JMP Securities lowered Old Republic International from an “outperform” rating to a “market perform” rating in a research report on Friday, July 12th. Zacks Investment Research lowered Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, June 25th.
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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