Brookstone Capital Management reduced its stake in shares of Old Republic International Co. (NYSE:ORI) by 12.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,615 shares of the insurance provider’s stock after selling 3,551 shares during the quarter. Brookstone Capital Management’s holdings in Old Republic International were worth $551,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC grew its stake in shares of Old Republic International by 5.4% in the second quarter. Wedge Capital Management L L P NC now owns 46,385 shares of the insurance provider’s stock worth $924,000 after purchasing an additional 2,361 shares during the last quarter. Vident Investment Advisory LLC grew its stake in shares of Old Republic International by 1.5% in the second quarter. Vident Investment Advisory LLC now owns 161,388 shares of the insurance provider’s stock worth $3,213,000 after purchasing an additional 2,418 shares during the last quarter. Spinnaker Trust grew its stake in shares of Old Republic International by 13.2% in the second quarter. Spinnaker Trust now owns 21,400 shares of the insurance provider’s stock worth $425,000 after purchasing an additional 2,500 shares during the last quarter. Atlantic Trust LLC grew its stake in shares of Old Republic International by 13.2% in the second quarter. Atlantic Trust LLC now owns 21,400 shares of the insurance provider’s stock worth $426,000 after purchasing an additional 2,500 shares during the last quarter. Finally, Delta Asset Management LLC TN grew its stake in shares of Old Republic International by 11.0% in the second quarter. Delta Asset Management LLC TN now owns 27,110 shares of the insurance provider’s stock worth $540,000 after purchasing an additional 2,695 shares during the last quarter. 71.99% of the stock is currently owned by hedge funds and other institutional investors.
NYSE ORI opened at $22.27 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $6.80 billion, a P/E ratio of 20.06 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.
Old Republic International (NYSE:ORI) last posted its earnings results on Thursday, October 25th. The insurance provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.12. The company 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 anticipate that Old Republic International Co. will post 1.85 EPS for the current fiscal year.
In other Old Republic International news, CFO Karl W. Mueller sold 9,879 shares of the firm’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $22.00, for a total value of $217,338.00. Following the completion of the sale, the chief financial officer now directly owns 26,787 shares in the company, valued at $589,314. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by company insiders.
Separately, Zacks Investment Research raised Old Republic International from a “hold” rating to a “strong-buy” rating and set a $25.00 target price on the stock in a research note on Thursday, November 1st.
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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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