Swiss National Bank increased its stake in shares of Old Republic International Corporation (NYSE:ORI) by 1.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 418,700 shares of the insurance provider’s stock after purchasing an additional 7,600 shares during the period. Swiss National Bank owned approximately 158,845.18% of Old Republic International worth $8,244,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of ORI. Renaissance Technologies LLC lifted its stake in shares of 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 valued at $133,300,000 after acquiring an additional 815,600 shares during the last quarter. Koch Industries Inc. bought a new position in Old Republic International during the second quarter valued at approximately $385,000. Janus Henderson Group PLC bought a new position in Old Republic International during the second quarter valued at approximately $7,344,000. Rafferty Asset Management LLC lifted its position in Old Republic International by 664.3% during the second quarter. Rafferty Asset Management LLC now owns 334,853 shares of the insurance provider’s stock valued at $6,540,000 after purchasing an additional 291,039 shares during the period. Finally, AHL Partners LLP lifted its position in Old Republic International by 229.5% during the second quarter. AHL Partners LLP now owns 398,574 shares of the insurance provider’s stock valued at $7,784,000 after purchasing an additional 277,605 shares during the period. 70.67% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts recently weighed in on ORI shares. Raymond James Financial raised shares of Old Republic International from an “outperform” rating to a “strong-buy” rating and raised their target price for the company from $23.00 to $25.00 in a research note on Monday, October 30th. Zacks Investment Research raised shares of Old Republic International from a “sell” rating to a “hold” rating in a research note on Thursday, September 28th.
Old Republic International Corporation (NYSE ORI) traded down $0.01 during mid-day trading on Wednesday, hitting $20.70. 1,269,252 shares of the company were exchanged, compared to its average volume of 1,342,702. Old Republic International Corporation has a 52-week low of $17.92 and a 52-week high of $21.19. The stock has a market cap of $5,460.00, a PE ratio of 17.02 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.51.
Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, October 26th. The insurance provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.06. Old Republic International had a net margin of 6.45% and a return on equity of 7.50%. The company had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the business posted $0.37 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. equities research analysts predict that Old Republic International Corporation will post 1.17 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, December 5th will be issued a $0.19 dividend. The ex-dividend date is Monday, December 4th. This represents a $0.76 annualized dividend and a dividend yield of 3.67%. Old Republic International’s dividend payout ratio is currently 56.30%.
In other Old Republic International news, VP Charles S. Boone sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $20.96, for a total transaction of $314,400.00. Following the sale, the vice president now owns 22,750 shares of the company’s stock, valued at approximately $476,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO R Scott Rager sold 47,500 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 transaction of $997,500.00. Following the completion of the sale, the chief operating officer now directly owns 40,000 shares in the company, valued at $840,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 81,552 shares of company stock valued at $1,711,992. Company insiders own 2.00% of the company’s stock.
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Old Republic International Company 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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