OppenheimerFunds Inc. raised its holdings in shares of Old Republic International Co. (NYSE:ORI) by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,708 shares of the insurance provider’s stock after acquiring an additional 4,232 shares during the quarter. OppenheimerFunds Inc.’s holdings in Old Republic International were worth $1,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of the company. Renaissance Technologies LLC raised its position in shares of Old Republic International by 16.2% during the 4th quarter. Renaissance Technologies LLC now owns 9,023,085 shares of the insurance provider’s stock valued at $192,914,000 after purchasing an additional 1,257,200 shares during the period. Systematic Financial Management LP raised its position in shares of Old Republic International by 262.1% during the 1st quarter. Systematic Financial Management LP now owns 1,234,843 shares of the insurance provider’s stock valued at $26,487,000 after purchasing an additional 893,783 shares during the period. Chicago Equity Partners LLC bought a new stake in shares of Old Republic International during the 1st quarter valued at $15,605,000. Victory Capital Management Inc. bought a new stake in shares of Old Republic International during the 1st quarter valued at $12,752,000. Finally, BlackRock Inc. raised its position in shares of Old Republic International by 1.8% during the 1st quarter. BlackRock Inc. now owns 25,999,638 shares of the insurance provider’s stock valued at $557,692,000 after purchasing an additional 467,644 shares during the period. Institutional investors and hedge funds own 74.25% of the company’s stock.
In other news, Director Arnold L. Steiner sold 40,000 shares of the business’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $21.16, for a total value of $846,400.00. Following the sale, the director now directly owns 91,599 shares in the company, valued at approximately $1,938,234.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Spencer Leroy III sold 31,500 shares of the business’s stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $21.50, for a total transaction of $677,250.00. Following the completion of the sale, the director now owns 91,599 shares in the company, valued at $1,969,378.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,900 shares of company stock worth $2,555,790. Insiders own 1.90% of the company’s stock.
Old Republic International (NYSE:ORI) last announced its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business’s revenue was up 2.6% on a year-over-year basis. equities analysts forecast that Old Republic International Co. will post 1.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Tuesday, June 5th were issued a $0.195 dividend. The ex-dividend date was Monday, June 4th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.73%. Old Republic International’s dividend payout ratio (DPR) is presently 70.27%.
Several brokerages have recently commented on ORI. ValuEngine downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Zacks Investment Research downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, March 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.00.
About Old Republic International
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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