Teachers Retirement System of The State of Kentucky raised its stake in shares of Old Republic International (NYSE:ORI) by 7.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,900 shares of the insurance provider’s stock after buying an additional 3,600 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Old Republic International were worth $1,045,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. State of Alaska Department of Revenue acquired a new position in shares of Old Republic International during the 4th quarter worth about $310,000. Brandes Investment Partners LP lifted its holdings in shares of Old Republic International by 7.3% during the 3rd quarter. Brandes Investment Partners LP now owns 440,546 shares of the insurance provider’s stock valued at $12,966,000 after purchasing an additional 29,880 shares in the last quarter. Cipher Capital LP bought a new position in shares of Old Republic International during the 3rd quarter valued at about $299,000. APG Asset Management N.V. lifted its holdings in shares of Old Republic International by 299.3% during the 4th quarter. APG Asset Management N.V. now owns 1,050,986 shares of the insurance provider’s stock valued at $18,713,000 after purchasing an additional 787,786 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Old Republic International by 1.5% during the 3rd quarter. New York State Common Retirement Fund now owns 532,900 shares of the insurance provider’s stock valued at $10,493,000 after purchasing an additional 7,800 shares in the last quarter. Institutional investors own 73.44% of the company’s stock.
ORI has been the topic of several recent analyst reports. Zacks Investment Research upgraded Old Republic International from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, January 24th. ValuEngine upgraded Old Republic International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JMP Securities upgraded Old Republic International from a “market perform” rating to an “outperform” rating in a 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. The stock presently has an average rating of “Buy” and a consensus price target of $24.00.
Old Republic International (NYSE:ORI) last released its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The business had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business posted $0.43 EPS. Old Republic International’s revenue for the quarter was up 2.5% on a year-over-year basis. analysts forecast that Old Republic International will post 1.7 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were issued a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Friday, March 2nd. This is a boost from Old Republic International’s previous quarterly dividend of $0.19. Old Republic International’s payout ratio is 40.63%.
In other news, Director Glenn W. Reed bought 5,000 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were purchased at an average price of $20.43 per share, for a total transaction of $102,150.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.
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Old Republic International Profile
Old Republic International Corporation, through its subsidiaries, engages in the insurance underwriting and related services business primarily in the United States and Canada. The company operates through three segments: General Insurance Group, Title Insurance Group, and the Republic Financial Indemnity Group Run-off Business.
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