Renaissance Technologies LLC grew its position in Old Republic International Co. (NYSE:ORI) by 16.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,023,085 shares of the insurance provider’s stock after buying an additional 1,257,200 shares during the period. Renaissance Technologies LLC owned approximately 3.42% of Old Republic International worth $192,914,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new stake in Old Republic International in the 3rd quarter valued at $118,000. Bessemer Group Inc. bought a new stake in Old Republic International during the 4th quarter worth about $145,000. DekaBank Deutsche Girozentrale lifted its position in Old Republic International by 78.3% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock worth $155,000 after buying an additional 3,513 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Old Republic International during the 4th quarter worth about $206,000. Finally, Oakbrook Investments LLC bought a new stake in Old Republic International during the 4th quarter worth about $219,000. 73.51% of the stock is owned by institutional investors.
Old Republic International Co. (NYSE ORI) traded down $0.41 during midday trading on Wednesday, hitting $20.91. 2,857,067 shares of the company traded hands, compared to its average volume of 3,900,000. The firm has a market cap of $5,520.00, a price-to-earnings ratio of 9.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Old Republic International Co. has a twelve month low of $17.92 and a twelve month high of $22.34.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be given a dividend of $0.195 per share. The ex-dividend date is Friday, March 2nd. This is a boost from Old Republic International’s previous quarterly dividend of $0.19. This represents a $0.78 annualized dividend and a dividend yield of 3.73%. Old Republic International’s dividend payout ratio is 36.97%.
A number of brokerages have recently issued reports on ORI. Zacks Investment Research raised shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, December 28th. ValuEngine upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JMP Securities upgraded shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Old Republic International has an average rating of “Buy” and an average target price of $24.00.
In related news, Director Glenn W. Reed purchased 5,000 shares of Old Republic International stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $20.43 per share, for a total transaction of $102,150.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.
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About Old Republic International
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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