Trexquant Investment LP trimmed its holdings in Old Republic International Co. (NYSE:ORI) by 15.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,177 shares of the insurance provider’s stock after selling 1,634 shares during the quarter. Trexquant Investment LP’s holdings in Old Republic International were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also made changes to their positions in ORI. Thompson Siegel & Walmsley LLC acquired a new position in shares of Old Republic International in the 2nd quarter valued at about $45,594,000. AQR Capital Management LLC lifted its stake in shares of Old Republic International by 83.5% in the 1st quarter. AQR Capital Management LLC now owns 1,909,115 shares of the insurance provider’s stock valued at $41,695,000 after purchasing an additional 868,484 shares during the period. Berkley W R Corp lifted its stake in shares of Old Republic International by 179.9% in the 1st quarter. Berkley W R Corp now owns 743,389 shares of the insurance provider’s stock valued at $16,236,000 after purchasing an additional 477,757 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Old Republic International by 9.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,983,009 shares of the insurance provider’s stock valued at $86,989,000 after purchasing an additional 336,984 shares during the period. Finally, NFJ Investment Group LLC acquired a new position in shares of Old Republic International in the 1st quarter valued at about $7,014,000. 72.84% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on ORI. Raymond James reissued a “buy” rating and issued a $28.00 price objective on shares of Old Republic International in a research note on Monday, July 26th. Zacks Investment Research lowered Old Republic International from a “buy” rating to a “hold” rating in a research report on Tuesday, September 28th.
Old Republic International (NYSE:ORI) last issued its earnings results on Thursday, July 22nd. The insurance provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.23. Old Republic International had a return on equity of 13.08% and a net margin of 17.77%. The business had revenue of $2.13 billion during the quarter, compared to analyst estimates of $1.71 billion. On average, sell-side analysts expect that Old Republic International Co. will post 2.6 EPS for the current year.
The company also recently announced a dividend, which was paid on Wednesday, October 6th. Investors of record on Wednesday, September 15th were given a $1.50 dividend. The ex-dividend date of this dividend was Tuesday, September 14th. Old Republic International’s payout ratio is 39.29%.
In other Old Republic International news, VP Thomas Dare sold 19,125 shares of the business’s stock in a transaction that occurred on Wednesday, August 25th. The stock was sold at an average price of $26.61, for a total transaction of $508,916.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Denard Kennedy bought 1,024 shares of Old Republic International stock in a transaction dated Friday, August 20th. The stock was acquired at an average cost of $26.35 per share, with a total value of $26,982.40. Following the completion of the acquisition, the director now owns 4,902 shares of the company’s stock, valued at $129,167.70. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 2,100 shares of company stock valued at $54,532 and have sold 578,820 shares valued at $15,262,617. Insiders own 1.90% of the company’s stock.
About Old Republic International
Old Republic International Corp. is a holding company, which engages in the business of insurance underwriting. It operates through the following segments: General Insurance, Title Insurance, and Republic Financial Indemnity Group (RFIG) Run-off Business. The General Insurance segment involves in the provision of property and liability insurance to commercial clients.
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