Engineers Gate Manager LP cut its stake in shares of Old Republic International Corporation (NYSE:ORI) by 9.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 128,980 shares of the insurance provider’s stock after selling 13,893 shares during the quarter. Engineers Gate Manager LP’s holdings in Old Republic International Corporation were worth $2,519,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in Old Republic International Corporation during the 1st quarter worth about $110,000. Ffcm LLC lifted its holdings in Old Republic International Corporation by 185.0% during the 2nd quarter. Ffcm LLC now owns 6,008 shares of the insurance provider’s stock worth $119,000 after buying an additional 3,900 shares during the period. Chicago Partners Investment Group LLC acquired a new position in Old Republic International Corporation during the 2nd quarter worth about $181,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Old Republic International Corporation by 14.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,945 shares of the insurance provider’s stock worth $183,000 after buying an additional 1,147 shares during the period. Finally, Hartford Investment Management Co. acquired a new position in Old Republic International Corporation during the 2nd quarter worth about $206,000. 71.23% of the stock is currently owned by hedge funds and other institutional investors.
In other Old Republic International Corporation news, Director Arnold L. Steiner sold 20,000 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $20.24, for a total value of $404,800.00. Following the completion of the sale, the director now directly owns 270,237 shares in the company, valued at $5,469,596.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is owned by company insiders.
Several brokerages have commented on ORI. Zacks Investment Research raised Old Republic International Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 5th. BidaskClub downgraded Old Republic International Corporation from a “sell” rating to a “strong sell” rating in a report on Sunday, July 16th.
Old Republic International Corporation (ORI) opened at 18.98 on Friday. The firm has a market capitalization of $4.96 billion, a P/E ratio of 11.96 and a beta of 1.31. The firm’s 50-day moving average price is $19.23 and its 200 day moving average price is $19.82. Old Republic International Corporation has a one year low of $16.51 and a one year high of $21.19.
Old Republic International Corporation (NYSE:ORI) last announced its quarterly earnings data on Thursday, July 27th. The insurance provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.02. Old Republic International Corporation had a net margin of 7.64% and a return on equity of 9.41%. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business posted $0.35 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, equities analysts anticipate that Old Republic International Corporation will post $1.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Tuesday, September 5th will be paid a $0.19 dividend. The ex-dividend date is Thursday, August 31st. This represents a $0.76 annualized dividend and a dividend yield of 4.00%. Old Republic International Corporation’s payout ratio is presently 47.80%.
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Old Republic International Corporation 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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