Meadow Creek Investment Management LLC raised its holdings in shares of Old Republic International (NYSE:ORI) by 75.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,800 shares of the insurance provider’s stock after purchasing an additional 67,184 shares during the period. Meadow Creek Investment Management LLC owned about 0.06% of Old Republic International worth $3,352,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in ORI. Valeo Financial Advisors LLC bought a new position in shares of Old Republic International during the third quarter worth about $118,000. Bessemer Group Inc. bought a new position in shares of Old Republic International during the fourth quarter worth about $145,000. DekaBank Deutsche Girozentrale grew its position in shares of Old Republic International by 78.3% during the third quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock worth $155,000 after acquiring an additional 3,513 shares during the last quarter. Narus Financial Partners LLC bought a new position in shares of Old Republic International during the third quarter worth about $206,000. Finally, Moors & Cabot Inc. bought a new position in shares of Old Republic International during the third quarter worth about $206,000. Hedge funds and other institutional investors own 73.51% of the company’s stock.
ORI has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Old Republic International from a “sell” rating to a “hold” rating and set a $23.00 price target for the company in a research report on Wednesday, December 20th. JMP Securities upgraded shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research report on Monday, February 12th. Finally, ValuEngine upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Old Republic International currently has an average rating of “Buy” and an average price target of $24.00.
Old Republic International (NYSE:ORI) opened at $21.30 on Friday. The company has a market cap of $5,672.46, a PE ratio of 11.09 and a beta of 1.36. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.31. Old Republic International has a 12-month low of $17.92 and a 12-month high of $22.34.
Old Republic International (NYSE:ORI) last released its quarterly earnings results on Thursday, January 25th. The insurance provider reported $0.33 EPS for the quarter, topping the consensus estimate of $0.28 by $0.05. The business had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.64 billion. Old Republic International had a net margin of 8.95% and a return on equity of 6.80%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.43 earnings per share. research analysts expect that Old Republic International will post 1.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Monday, March 5th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date of this dividend was Friday, March 2nd. This is a positive change from Old Republic International’s previous quarterly dividend of $0.19. Old Republic International’s dividend payout ratio is currently 40.63%.
In related news, Director Glenn W. Reed bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was purchased at an average price of $20.43 per share, for a total transaction of $102,150.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.
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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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