Knightsbridge Asset Management LLC lifted its position in Old Republic International Co. (NYSE:ORI) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 417,665 shares of the insurance provider’s stock after purchasing an additional 16,478 shares during the quarter. Old Republic International accounts for about 5.6% of Knightsbridge Asset Management LLC’s holdings, making the stock its 6th largest holding. Knightsbridge Asset Management LLC owned approximately 0.16% of Old Republic International worth $8,930,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its position in Old Republic International by 19.1% during the 3rd quarter. Brookstone Capital Management now owns 16,783 shares of the insurance provider’s stock valued at $330,000 after purchasing an additional 2,686 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Old Republic International by 1.4% during the 4th quarter. Mutual of America Capital Management LLC now owns 200,897 shares of the insurance provider’s stock worth $4,295,000 after acquiring an additional 2,713 shares during the period. Rhumbline Advisers grew its holdings in shares of Old Republic International by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 457,998 shares of the insurance provider’s stock worth $9,018,000 after acquiring an additional 2,776 shares during the period. Amalgamated Bank grew its holdings in shares of Old Republic International by 6.0% during the 4th quarter. Amalgamated Bank now owns 49,302 shares of the insurance provider’s stock worth $1,054,000 after acquiring an additional 2,787 shares during the period. Finally, Delta Asset Management LLC TN grew its holdings in shares of Old Republic International by 15.8% during the 4th quarter. Delta Asset Management LLC TN now owns 21,665 shares of the insurance provider’s stock worth $463,000 after acquiring an additional 2,960 shares during the period. 73.51% of the stock is owned by institutional investors.
Old Republic International Co. (NYSE ORI) traded down $0.41 during midday trading on Wednesday, hitting $20.91. The stock had a trading volume of 2,857,067 shares, compared to its average volume of 3,900,000. The company has a market cap of $5,520.00, a PE ratio of 9.91 and a beta of 1.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.49 and a quick ratio of 0.49. Old Republic International Co. has a 12-month low of $17.92 and a 12-month high of $22.34.
Old Republic International (NYSE:ORI) last announced its earnings results on Thursday, January 25th. The insurance provider reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.05. Old Republic International had a return on equity of 6.80% and a net margin of 8.95%. The company had revenue of $1.57 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $0.43 EPS. Old Republic International’s revenue for the quarter was up 2.5% compared to the same quarter last year. analysts expect that Old Republic International Co. will post 1.7 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Monday, March 5th will be issued a $0.195 dividend. This is a boost from Old Republic International’s previous quarterly dividend of $0.19. This represents a $0.78 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, March 2nd. Old Republic International’s dividend payout ratio (DPR) is currently 36.97%.
ORI has been the topic of several recent research reports. Zacks Investment Research upgraded Old Republic International from a “sell” rating to a “hold” rating and set a $23.00 price target on the stock in a research note on Wednesday, December 20th. JMP Securities upgraded Old Republic International from a “market perform” rating to an “outperform” rating in a research note on Monday, February 12th. Finally, ValuEngine upgraded Old Republic International from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Old Republic International has an average rating of “Buy” and an average target price of $24.00.
In other Old Republic International news, Director Glenn W. Reed purchased 5,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were acquired at an average cost of $20.43 per share, with a total value of $102,150.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.
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Old Republic International Profile
Old Republic International Corporation is a holding company. The Company is engaged in business of insurance underwriting and related services. The Company conducts its operations through various regulated insurance company subsidiaries, which are organized into three segments: General Insurance Group, Title Insurance Group and the Republic Financial Indemnity Group (RFIG) Run-off Business.
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