Pettee Investors Inc. bought a new stake in Old Republic International Co. (NYSE:ORI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,350 shares of the insurance provider’s stock, valued at approximately $634,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. increased its stake in shares of Old Republic International by 535.2% in the second quarter. Itau Unibanco Holding S.A. now owns 7,470 shares of the insurance provider’s stock worth $149,000 after acquiring an additional 6,294 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of Old Republic International in the third quarter worth $182,000. Advisors Asset Management Inc. increased its stake in shares of Old Republic International by 767.5% in the second quarter. Advisors Asset Management Inc. now owns 25,783 shares of the insurance provider’s stock worth $201,000 after acquiring an additional 22,811 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Old Republic International by 68.2% in the third quarter. IFP Advisors Inc now owns 9,461 shares of the insurance provider’s stock worth $212,000 after acquiring an additional 3,836 shares during the last quarter. Finally, First Midwest Bank Trust Division acquired a new position in shares of Old Republic International in the third quarter worth $219,000. Institutional investors own 71.99% of the company’s stock.
NYSE ORI opened at $21.72 on Monday. 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. The firm has a market capitalization of $6.57 billion, a PE ratio of 19.57 and a beta of 1.06.
Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, October 25th. The insurance provider reported $0.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.12. Old Republic International had a net margin of 12.01% and a return on equity of 10.18%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.56 billion. On average, sell-side analysts predict that Old Republic International Co. will post 1.85 EPS for the current year.
Separately, Zacks Investment Research raised shares of Old Republic International from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Wednesday, August 1st.
In other news, CFO Karl W. Mueller sold 9,879 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $22.00, for a total value of $217,338.00. Following the transaction, the chief financial officer now directly owns 26,787 shares of the company’s stock, valued at $589,314. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
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.
See Also: Return on Investment (ROI)
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