CHURCHILL MANAGEMENT Corp cut its stake in shares of Old Republic International Co. (NYSE:ORI) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,015,342 shares of the insurance provider’s stock after selling 11,770 shares during the quarter. Old Republic International makes up approximately 0.5% of CHURCHILL MANAGEMENT Corp’s holdings, making the stock its 28th biggest position. CHURCHILL MANAGEMENT Corp owned about 0.38% of Old Republic International worth $21,708,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of ORI. Renaissance Technologies LLC lifted its holdings 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 shares of Old Republic International during the 2nd quarter worth approximately $385,000. Janus Henderson Group PLC purchased a new stake in shares of Old Republic International during the 2nd quarter worth approximately $7,344,000. Capital Returns Management LLC raised its holdings in shares of Old Republic International by 37.1% during the 3rd quarter. Capital Returns Management LLC now owns 1,311,393 shares of the insurance provider’s stock worth $25,821,000 after acquiring an additional 354,975 shares in the last quarter. Finally, Rafferty Asset Management LLC raised its holdings in shares of Old Republic International by 664.3% during the 2nd quarter. Rafferty Asset Management LLC now owns 334,853 shares of the insurance provider’s stock worth $6,540,000 after acquiring an additional 291,039 shares in the last quarter. 70.64% of the stock is currently owned by institutional investors.
In other Old Republic International news, VP Charles S. Boone sold 15,000 shares of the company’s stock in a transaction 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 owns 22,750 shares of the company’s stock, valued at approximately $476,840. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Karl W. Mueller sold 19,052 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $21.00, for a total value of $400,092.00. Following the completion of the transaction, the chief financial officer now directly owns 5,331 shares in the company, valued at approximately $111,951. The disclosure for this sale can be found here. Insiders sold a total of 81,552 shares of company stock worth $1,711,992 in the last ninety days. 2.00% of the stock is currently owned by corporate insiders.
Old Republic International (NYSE:ORI) last released its earnings results on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.06. The firm had revenue of $1.56 billion for the quarter, compared to the consensus estimate of $1.52 billion. Old Republic International had a return on equity of 7.50% and a net margin of 6.45%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS. research analysts expect that Old Republic International Co. will post 1.17 EPS for the current fiscal year.
The firm also recently disclosed a None dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be given a $1.00 dividend. The ex-dividend date of this dividend is Tuesday, January 9th. Old Republic International’s dividend payout ratio (DPR) is presently 56.30%.
Several analysts have recently issued reports on the company. Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Raymond James Financial raised 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 report on Monday, October 30th.
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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