Meadow Creek Investment Management LLC lifted its holdings in shares of Old Republic International (NYSE:ORI) by 75.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,800 shares of the insurance provider’s stock after buying 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 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank increased its position in Old Republic International by 1.8% during the third quarter. Swiss National Bank now owns 418,700 shares of the insurance provider’s stock worth $8,244,000 after buying an additional 7,600 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Old Republic International during the fourth quarter worth $310,000. Brandes Investment Partners LP boosted its holdings in shares of Old Republic International by 7.3% during the third quarter. Brandes Investment Partners LP now owns 440,546 shares of the insurance provider’s stock worth $12,966,000 after purchasing an additional 29,880 shares during the last quarter. Cipher Capital LP acquired a new stake in shares of Old Republic International during the third quarter worth $299,000. Finally, Sadoff Investment Management LLC boosted its holdings in shares of Old Republic International by 1.5% during the third quarter. Sadoff Investment Management LLC now owns 543,905 shares of the insurance provider’s stock worth $10,709,000 after purchasing an additional 7,900 shares during the last quarter. 73.45% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ORI traded down $0.32 during midday trading on Friday, reaching $21.31. 1,654,659 shares of the company’s stock were exchanged, compared to its average volume of 2,139,324. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $5,739.78, a price-to-earnings ratio of 19.20 and a beta of 1.25. Old Republic International has a 52-week low of $17.92 and a 52-week high of $22.34.
Old Republic International (NYSE:ORI) last announced its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.05. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the company earned $0.43 earnings per share. Old Republic International’s quarterly revenue was up 2.5% on a year-over-year basis. research analysts predict that Old Republic International will post 1.7 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were paid a $0.195 dividend. This is an increase from Old Republic International’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 3.66%. The ex-dividend date was Friday, March 2nd. Old Republic International’s payout ratio is presently 70.27%.
ORI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Old Republic International from a “sell” rating to a “hold” rating and set a $23.00 target price on the stock in a report on Wednesday, December 20th. JMP Securities upgraded Old Republic International from a “market perform” rating to an “outperform” rating in a research note on Monday, February 12th. Finally, ValuEngine upgraded Old Republic International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $24.00.
In related news, Director Glenn W. Reed bought 5,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was bought at an average cost of $20.43 per share, for a total transaction of $102,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.
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Old Republic International Company 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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