Bank of New York Mellon Corp boosted its holdings in Old Republic International Co. (NYSE:ORI) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,180,912 shares of the insurance provider’s stock after buying an additional 62,422 shares during the quarter. Bank of New York Mellon Corp owned 1.38% of Old Republic International worth $93,526,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Colony Group LLC grew its position in Old Republic International by 6.6% during the 3rd quarter. Colony Group LLC now owns 268,207 shares of the insurance provider’s stock worth $6,322,000 after purchasing an additional 16,490 shares in the last quarter. California State Teachers Retirement System grew its position in Old Republic International by 0.7% during the 3rd quarter. California State Teachers Retirement System now owns 459,955 shares of the insurance provider’s stock worth $10,841,000 after purchasing an additional 3,266 shares in the last quarter. Parametric Portfolio Associates LLC grew its position in Old Republic International by 4.6% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 851,313 shares of the insurance provider’s stock worth $20,065,000 after purchasing an additional 37,441 shares in the last quarter. Public Employees Retirement System of Ohio grew its position in Old Republic International by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 189,870 shares of the insurance provider’s stock worth $4,475,000 after purchasing an additional 1,285 shares in the last quarter. Finally, Squarepoint Ops LLC grew its position in Old Republic International by 324.9% during the 3rd quarter. Squarepoint Ops LLC now owns 198,829 shares of the insurance provider’s stock worth $4,686,000 after purchasing an additional 152,038 shares in the last quarter. Hedge funds and other institutional investors own 76.68% of the company’s stock.
Old Republic International stock opened at $13.58 on Thursday. The company’s fifty day simple moving average is $20.03 and its 200-day simple moving average is $22.08. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.16. Old Republic International Co. has a 12 month low of $11.88 and a 12 month high of $24.10. The stock has a market cap of $3.75 billion, a P/E ratio of 3.88 and a beta of 0.78.
Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, January 23rd. The insurance provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.39 by $0.08. Old Republic International had a net margin of 14.64% and a return on equity of 9.52%. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.60 billion. During the same period in the previous year, the company posted $0.45 EPS. Old Republic International’s revenue was up 10.9% on a year-over-year basis. On average, equities research analysts expect that Old Republic International Co. will post 1.65 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 16th. Stockholders of record on Monday, March 9th were issued a dividend of $0.21 per share. This is a boost from Old Republic International’s previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 6.19%. The ex-dividend date was Friday, March 6th. Old Republic International’s payout ratio is currently 45.65%.
In other Old Republic International news, Director Glenn W. Reed acquired 5,000 shares of Old Republic International stock in a transaction that occurred on Tuesday, March 3rd. The stock was acquired at an average price of $20.55 per share, with a total value of $102,750.00. Also, Director Peter Mcnitt acquired 7,500 shares of Old Republic International stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $19.90 per share, with a total value of $149,250.00. Following the purchase, the director now owns 7,500 shares in the company, valued at approximately $149,250. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 12,700 shares of company stock worth $256,424. 1.90% of the stock is currently owned by corporate insiders.
Separately, Zacks Investment Research cut shares of Old Republic International from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th.
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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