Russell Investments Group Ltd. trimmed its stake in Old Republic International Co. (NYSE:ORI) by 80.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 384,444 shares of the insurance provider’s stock after selling 1,620,832 shares during the period. Russell Investments Group Ltd. owned 0.13% of Old Republic International worth $8,240,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Dubuque Bank & Trust Co. bought a new position in Old Republic International in the 1st quarter worth $103,000. Jump Trading LLC bought a new position in Old Republic International in the 4th quarter worth $227,000. Bank of Hawaii bought a new position in Old Republic International in the 1st quarter worth $237,000. Jane Street Group LLC bought a new position in Old Republic International in the 4th quarter worth $260,000. Finally, Dynamic Capital Management Ltd bought a new position in Old Republic International in the 4th quarter worth $321,000. 74.25% of the stock is owned by institutional investors.
In related news, Director Spencer Leroy III sold 24,400 shares of the business’s stock in a transaction that occurred on Thursday, June 7th. The shares were sold at an average price of $21.35, for a total value of $520,940.00. Following the completion of the transaction, the director now directly owns 69,099 shares in the company, valued at approximately $1,475,263.65. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Charles S. Boone sold 24,000 shares of the business’s stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $21.30, for a total transaction of $511,200.00. Following the completion of the transaction, the vice president now owns 20,250 shares of the company’s stock, valued at $431,325. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 119,900 shares of company stock valued at $2,555,790. 2.00% of the stock is owned by company insiders.
Several research firms have commented on ORI. Zacks Investment Research downgraded shares of Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. ValuEngine raised shares of Old Republic International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $24.00.
Old Republic International opened at $20.40 on Friday, according to Marketbeat Ratings. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.19. Old Republic International Co. has a 52 week low of $17.92 and a 52 week high of $22.34. The stock has a market cap of $6.33 billion, a price-to-earnings ratio of 18.38 and a beta of 1.26.
Old Republic International (NYSE:ORI) last issued its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Old Republic International had a return on equity of 6.80% and a net margin of 7.34%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same period in the prior year, the firm earned $0.39 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. sell-side analysts forecast that Old Republic International Co. will post 1.7 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Tuesday, June 5th were issued a $0.195 dividend. The ex-dividend date was Monday, June 4th. This represents a $0.78 dividend on an annualized basis and a yield of 3.82%. Old Republic International’s payout ratio is currently 70.27%.
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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