Louisiana State Employees Retirement System boosted its position in shares of Old Republic International Corporation (NYSE:ORI) by 3.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,900 shares of the insurance provider’s stock after buying an additional 2,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Old Republic International Corporation were worth $1,248,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in ORI. Acrospire Investment Management LLC purchased a new position in shares of Old Republic International Corporation during the first quarter worth $110,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Old Republic International Corporation by 14.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,945 shares of the insurance provider’s stock worth $183,000 after buying an additional 1,147 shares during the last quarter. Delta Asset Management LLC TN increased its stake in shares of Old Republic International Corporation by 0.7% in the first quarter. Delta Asset Management LLC TN now owns 10,265 shares of the insurance provider’s stock worth $210,000 after buying an additional 75 shares during the last quarter. National Asset Management Inc. increased its stake in shares of Old Republic International Corporation by 6.5% in the first quarter. National Asset Management Inc. now owns 11,710 shares of the insurance provider’s stock worth $240,000 after buying an additional 710 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Old Republic International Corporation during the first quarter worth approximately $267,000. 70.93% of the stock is currently owned by institutional investors and hedge funds.
Shares of Old Republic International Corporation (ORI) opened at 19.70 on Tuesday. Old Republic International Corporation has a 52 week low of $16.51 and a 52 week high of $21.19. The stock has a market cap of $5.14 billion, a P/E ratio of 12.41 and a beta of 1.32. The stock has a 50 day moving average price of $19.74 and a 200-day moving average price of $20.03.
Old Republic International Corporation (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 27th. The insurance provider reported $0.36 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.04. The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Old Republic International Corporation had a return on equity of 9.54% and a net margin of 7.70%. The firm’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities analysts predict that Old Republic International Corporation will post $1.47 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Old Republic International Corporation from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, May 24th. BidaskClub upgraded Old Republic International Corporation from a “strong sell” rating to a “sell” rating in a research note on Friday, June 16th.
In related news, Director Arnold L. Steiner sold 20,000 shares of the business’s stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $20.24, for a total value of $404,800.00. Following the transaction, the director now owns 270,237 shares in the company, valued at approximately $5,469,596.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Bateman purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $19.56 per share, for a total transaction of $97,800.00. Following the transaction, the director now directly owns 15,000 shares in the company, valued at $293,400. The disclosure for this purchase can be found here. Insiders own 2.30% of the company’s stock.
Old Republic International Corporation Company Profile
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
Want to see what other hedge funds are holding ORI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Old Republic International Corporation (NYSE:ORI).
Receive News & Ratings for Old Republic International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
