CHURCHILL MANAGEMENT Corp lowered its position in Old Republic International Co. (NYSE:ORI) by 1.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,015,342 shares of the insurance provider’s stock after selling 11,770 shares during the period. Old Republic International makes up approximately 0.5% of CHURCHILL MANAGEMENT Corp’s investment portfolio, making the stock its 28th largest holding. CHURCHILL MANAGEMENT Corp owned 0.38% of Old Republic International worth $21,708,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in Old Republic International by 13.6% in the 2nd quarter. Renaissance Technologies LLC now owns 6,825,385 shares of the insurance provider’s stock worth $133,300,000 after purchasing an additional 815,600 shares in the last quarter. Koch Industries Inc. purchased a new stake in Old Republic International in the 2nd quarter worth approximately $385,000. Janus Henderson Group PLC purchased a new stake in Old Republic International in the 2nd quarter worth approximately $7,344,000. Capital Returns Management LLC boosted its position in Old Republic International by 37.1% in the 3rd quarter. Capital Returns Management LLC now owns 1,311,393 shares of the insurance provider’s stock worth $25,821,000 after purchasing an additional 354,975 shares in the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Old Republic International by 664.3% in the 2nd quarter. Rafferty Asset Management LLC now owns 334,853 shares of the insurance provider’s stock worth $6,540,000 after purchasing an additional 291,039 shares in the last quarter. Hedge funds and other institutional investors own 70.64% of the company’s stock.
Old Republic International Co. (ORI) traded up $0.07 during trading on Thursday, reaching $19.83. The company’s stock had a trading volume of 2,322,419 shares, compared to its average volume of 2,908,790. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. Old Republic International Co. has a 1-year low of $17.92 and a 1-year high of $21.56. The stock has a market cap of $5,230.00, a price-to-earnings ratio of 14.69 and a beta of 1.36.
The firm also recently announced a None dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Tuesday, January 9th. Old Republic International’s payout ratio is 56.30%.
Several research firms have commented on ORI. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, December 28th. Raymond James Financial upgraded Old Republic International from an “outperform” rating to a “strong-buy” rating and upped their price objective for the stock from $23.00 to $25.00 in a research report on Monday, October 30th.
In other news, CFO Karl W. Mueller sold 19,052 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $21.00, for a total transaction of $400,092.00. Following the completion of the transaction, the chief financial officer now directly owns 5,331 shares of the company’s stock, valued at approximately $111,951. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Charles S. Boone sold 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $20.96, for a total value of $314,400.00. Following the transaction, the vice president now directly owns 22,750 shares of the company’s stock, valued at $476,840. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 81,552 shares of company stock valued at $1,711,992. Corporate insiders own 2.00% of the company’s stock.
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Old Republic International 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.
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