CIBC Asset Management Inc increased its stake in shares of Old Republic International Co. (NYSE:ORI) by 5.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,076 shares of the insurance provider’s stock after purchasing an additional 1,108 shares during the quarter. CIBC Asset Management Inc’s holdings in Old Republic International were worth $420,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. BlackRock Inc. lifted its holdings in Old Republic International by 5.0% in the fourth quarter. BlackRock Inc. now owns 31,855,862 shares of the insurance provider’s stock valued at $655,273,000 after acquiring an additional 1,514,309 shares during the period. Vanguard Group Inc lifted its holdings in Old Republic International by 3.8% in the third quarter. Vanguard Group Inc now owns 26,280,159 shares of the insurance provider’s stock valued at $588,150,000 after acquiring an additional 958,745 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Old Republic International by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,276,202 shares of the insurance provider’s stock valued at $149,673,000 after acquiring an additional 142,057 shares during the period. Bank of New York Mellon Corp lifted its holdings in Old Republic International by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 5,176,181 shares of the insurance provider’s stock valued at $106,476,000 after acquiring an additional 98,127 shares during the period. Finally, APG Asset Management N.V. lifted its holdings in Old Republic International by 154.1% in the fourth quarter. APG Asset Management N.V. now owns 4,106,000 shares of the insurance provider’s stock valued at $73,884,000 after acquiring an additional 2,489,900 shares during the period. 73.05% of the stock is owned by hedge funds and other institutional investors.
ORI has been the subject of a number of recent analyst reports. TheStreet raised Old Republic International from a “c+” rating to a “b-” rating in a report on Wednesday, March 20th. Zacks Investment Research raised Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Thursday, April 25th.
Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, April 25th. The insurance provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.48 billion. Old Republic International had a return on equity of 10.66% and a net margin of 11.87%. The business’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 EPS. On average, analysts expect that Old Republic International Co. will post 1.85 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Tuesday, June 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.55%. The ex-dividend date is Monday, June 3rd. Old Republic International’s dividend payout ratio (DPR) is presently 43.01%.
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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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