Cornerstone Capital Management Holdings LLC. raised its stake in Old Republic International (NYSE:ORI) by 14,589.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 258,824 shares of the insurance provider’s stock after acquiring an additional 257,062 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.10% of Old Republic International worth $5,533,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Mutual of America Capital Management LLC increased its position in Old Republic International by 1.4% in the 4th quarter. Mutual of America Capital Management LLC now owns 200,897 shares of the insurance provider’s stock valued at $4,295,000 after acquiring an additional 2,713 shares in the last quarter. Rhumbline Advisers increased its position in Old Republic International by 0.6% in the 3rd quarter. Rhumbline Advisers now owns 457,998 shares of the insurance provider’s stock valued at $9,018,000 after acquiring an additional 2,776 shares in the last quarter. Amalgamated Bank increased its position in Old Republic International by 6.0% in the 4th quarter. Amalgamated Bank now owns 49,302 shares of the insurance provider’s stock valued at $1,054,000 after acquiring an additional 2,787 shares in the last quarter. Delta Asset Management LLC TN increased its position in Old Republic International by 15.8% in the 4th quarter. Delta Asset Management LLC TN now owns 21,665 shares of the insurance provider’s stock valued at $463,000 after acquiring an additional 2,960 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Old Republic International by 4.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 75,244 shares of the insurance provider’s stock valued at $1,482,000 after acquiring an additional 3,060 shares in the last quarter. Hedge funds and other institutional investors own 73.44% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, December 28th. ValuEngine upgraded shares of Old Republic International from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, JMP Securities raised shares of Old Republic International from a “market perform” rating to an “outperform” rating in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $24.00.
ORI stock opened at $21.50 on Wednesday. The stock has a market cap of $5,737.10, a PE ratio of 11.20 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Old Republic International has a one year low of $17.92 and a one year high of $22.34.
Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, January 25th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.05. The company had revenue of $1.57 billion for 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 revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS. sell-side analysts expect that Old Republic International will post 1.7 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Monday, March 5th were paid a $0.195 dividend. This represents a $0.78 annualized dividend and a dividend yield of 3.63%. 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 (DPR) is 40.63%.
In other Old Republic International news, Director Glenn W. Reed bought 5,000 shares of Old Republic International stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $20.43 per share, with a total value of $102,150.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.
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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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