Old Republic International Corporation (NYSE:ORI) Stake Reduced by US Bancorp DE

US Bancorp DE decreased its position in shares of Old Republic International Corporation (NYSE:ORI) by 2.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 645,964 shares of the insurance provider’s stock after selling 16,344 shares during the period. US Bancorp DE owned approximately 0.25% of Old Republic International Corporation worth $12,615,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in Old Republic International Corporation by 3.6% in the second quarter. Louisiana State Employees Retirement System now owns 63,900 shares of the insurance provider’s stock valued at $1,248,000 after buying an additional 2,200 shares during the period. Pegasus Partners Ltd. acquired a new stake in Old Republic International Corporation during the fourth quarter valued at $2,681,000. CIBC World Markets Inc. boosted its stake in Old Republic International Corporation by 11.1% in the first quarter. CIBC World Markets Inc. now owns 20,310 shares of the insurance provider’s stock valued at $416,000 after buying an additional 2,034 shares during the period. Public Employees Retirement System of Ohio boosted its position in Old Republic International Corporation by 5.1% in the first quarter. Public Employees Retirement System of Ohio now owns 124,613 shares of the insurance provider’s stock worth $2,552,000 after buying an additional 6,040 shares during the last quarter. Finally, Fox Run Management L.L.C. boosted its position in Old Republic International Corporation by 46.3% in the second quarter. Fox Run Management L.L.C. now owns 29,700 shares of the insurance provider’s stock worth $580,000 after buying an additional 9,400 shares during the last quarter. 70.94% of the stock is currently owned by institutional investors and hedge funds.

Old Republic International Corporation (ORI) traded down 0.489% during mid-day trading on Wednesday, hitting $19.335. The company’s stock had a trading volume of 739,094 shares. Old Republic International Corporation has a 12-month low of $16.51 and a 12-month high of $21.19. The firm’s 50-day moving average is $19.71 and its 200-day moving average is $20.05. The company has a market cap of $5.05 billion, a P/E ratio of 12.206 and a beta of 1.32.

Old Republic International Corporation (NYSE:ORI) last released its quarterly earnings results on Thursday, July 27th. The insurance provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by $0.02. The business had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.46 billion. Old Republic International Corporation had a net margin of 7.64% and a return on equity of 9.41%. The firm’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 earnings per share. Analysts predict that Old Republic International Corporation will post $1.47 EPS for the current fiscal year.

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A number of research firms have recently commented on ORI. Zacks Investment Research cut Old Republic International Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised Old Republic International Corporation from a “strong sell” rating to a “sell” rating in a report on Friday, June 16th.

In related news, Director Steven J. Bateman purchased 5,000 shares of the business’s stock in a transaction on Monday, May 15th. The shares were bought at an average price of $19.56 per share, with a total value of $97,800.00. Following the completion of the purchase, the director now directly owns 15,000 shares in the company, valued at approximately $293,400. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Arnold L. Steiner sold 20,000 shares of the stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $20.24, for a total transaction of $404,800.00. Following the transaction, the director now directly owns 270,237 shares in the company, valued at approximately $5,469,596.88. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

About Old Republic International Corporation

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.