Jane Street Group LLC Boosts Stock Position in Old Republic International Co. (NYSE:ORI)

Jane Street Group LLC raised its holdings in Old Republic International Co. (NYSE:ORI) by 673.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,036 shares of the insurance provider’s stock after purchasing an additional 105,386 shares during the quarter. Jane Street Group LLC’s holdings in Old Republic International were worth $1,974,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Old Republic International by 2.2% during the first quarter. The Manufacturers Life Insurance Company now owns 409,162 shares of the insurance provider’s stock valued at $6,240,000 after purchasing an additional 8,633 shares during the period. O Shares Investment Advisers LLC bought a new stake in Old Republic International in the 2nd quarter valued at about $1,343,000. State of Tennessee Treasury Department raised its stake in Old Republic International by 66.2% in the 2nd quarter. State of Tennessee Treasury Department now owns 208,505 shares of the insurance provider’s stock valued at $3,401,000 after acquiring an additional 83,030 shares during the period. Louisiana State Employees Retirement System lifted its holdings in Old Republic International by 3.3% during the second quarter. Louisiana State Employees Retirement System now owns 71,300 shares of the insurance provider’s stock valued at $1,163,000 after purchasing an additional 2,300 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Old Republic International by 10.8% during the first quarter. Rhumbline Advisers now owns 750,971 shares of the insurance provider’s stock worth $11,452,000 after purchasing an additional 73,214 shares during the period. 73.56% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research upgraded shares of Old Republic International from a “sell” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research note on Thursday, June 18th.

Shares of NYSE ORI remained flat at $$15.15 during mid-day trading on Wednesday. The stock had a trading volume of 10,891 shares, compared to its average volume of 2,193,988. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.52 and a quick ratio of 0.52. Old Republic International Co. has a one year low of $11.88 and a one year high of $24.10. The firm has a market capitalization of $4.61 billion, a P/E ratio of 16.65 and a beta of 0.80. The business’s 50-day simple moving average is $16.24 and its 200-day simple moving average is $16.24.

Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, July 23rd. The insurance provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.39 by $0.03. Old Republic International had a return on equity of 9.87% and a net margin of 4.26%. The business had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.95 billion. During the same quarter last year, the company earned $0.45 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, research analysts forecast that Old Republic International Co. will post 1.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Friday, September 4th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.54%. Old Republic International’s dividend payout ratio (DPR) is currently 45.65%.

In other Old Republic International news, Director Aldo C. Zucaro purchased 5,000 shares of the stock in a transaction on Monday, August 31st. The shares were purchased at an average price of $16.20 per share, with a total value of $81,000.00. Following the acquisition, the director now directly owns 1,320,000 shares in the company, valued at approximately $21,384,000. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Aldo C. Zucaro purchased 4,920 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were acquired at an average price of $16.20 per share, with a total value of $79,704.00. Following the transaction, the director now owns 1,315,000 shares in the company, valued at approximately $21,303,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 12,820 shares of company stock valued at $207,791. 1.90% of the stock is owned by corporate insiders.

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.

Read More: Intrinsic Value and Stock Selection

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Institutional Ownership by Quarter for Old Republic International (NYSE:ORI)

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