Comerica Bank reduced its position in shares of Old Republic International Co. (NYSE:ORI) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,171 shares of the insurance provider’s stock after selling 37,574 shares during the period. Comerica Bank owned 0.26% of Old Republic International worth $15,962,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. increased its stake in Old Republic International by 7.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,432,616 shares of the insurance provider’s stock worth $28,524,000 after buying an additional 101,814 shares in the last quarter. Wells Fargo & Company MN increased its stake in Old Republic International by 8.0% during the 2nd quarter. Wells Fargo & Company MN now owns 721,939 shares of the insurance provider’s stock worth $14,374,000 after buying an additional 53,381 shares in the last quarter. California Public Employees Retirement System increased its stake in Old Republic International by 10.8% during the 2nd quarter. California Public Employees Retirement System now owns 734,310 shares of the insurance provider’s stock worth $14,620,000 after buying an additional 71,301 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Old Republic International by 5.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 256,515 shares of the insurance provider’s stock worth $5,108,000 after buying an additional 14,195 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Old Republic International by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,102,293 shares of the insurance provider’s stock worth $23,644,000 after buying an additional 50,426 shares in the last quarter. Institutional investors own 72.58% of the company’s stock.
Separately, Zacks Investment Research cut Old Republic International from a “buy” rating to a “hold” rating in a report on Thursday, September 27th.
In other news, CFO Karl W. Mueller sold 9,879 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $22.00, for a total transaction of $217,338.00. Following the transaction, the chief financial officer now directly owns 26,787 shares in the company, valued at approximately $589,314. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 2.00% of the company’s stock.
Shares of Old Republic International stock opened at $21.72 on Monday. The company has a market cap of $6.57 billion, a PE ratio of 19.57 and a beta of 1.06. Old Republic International Co. has a 1-year low of $19.48 and a 1-year high of $23.05. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.49 and a current ratio of 1.27.
Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, October 25th. The insurance provider reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.56 billion. Old Republic International had a return on equity of 10.18% and a net margin of 12.01%. As a group, analysts expect that Old Republic International Co. will post 1.85 earnings per share for the current fiscal year.
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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