US Bancorp DE lowered its stake in Old Republic International (NYSE:ORI) by 2.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 632,293 shares of the insurance provider’s stock after selling 14,973 shares during the period. US Bancorp DE owned approximately 0.21% of Old Republic International worth $13,563,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in ORI. Renaissance Technologies LLC increased its holdings in shares of Old Republic International by 16.2% in the fourth quarter. Renaissance Technologies LLC now owns 9,023,085 shares of the insurance provider’s stock valued at $192,914,000 after purchasing an additional 1,257,200 shares during the period. APG Asset Management N.V. increased its holdings in shares of Old Republic International by 299.3% in the fourth quarter. APG Asset Management N.V. now owns 1,050,986 shares of the insurance provider’s stock valued at $18,713,000 after purchasing an additional 787,786 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Old Republic International in the fourth quarter valued at approximately $16,657,000. Chicago Equity Partners LLC acquired a new position in shares of Old Republic International in the first quarter valued at approximately $15,605,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Old Republic International in the first quarter valued at approximately $12,752,000. 67.85% of the stock is currently owned by institutional investors and hedge funds.
Old Republic International opened at $21.04 on Friday, Marketbeat reports. The company has a market capitalization of $6.36 billion, a PE ratio of 18.14 and a beta of 1.25. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.19. Old Republic International has a 12-month low of $17.92 and a 12-month high of $22.34.
Old Republic International (NYSE:ORI) last posted its quarterly earnings results on Thursday, April 26th. The insurance provider reported $0.40 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.01). Old Republic International had a net margin of 7.34% and a return on equity of 6.80%. The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.40 billion. During the same quarter last year, the firm earned $0.39 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. equities analysts predict that Old Republic International will post 1.7 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Investors of record on Tuesday, June 5th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Monday, June 4th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 3.71%. Old Republic International’s dividend payout ratio (DPR) is presently 70.27%.
A number of research firms have recently issued reports on ORI. JMP Securities raised Old Republic International from a “market perform” rating to an “outperform” rating in a report on Monday, February 12th. ValuEngine raised Old Republic International from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Zacks Investment Research lowered Old Republic International from a “buy” rating to a “hold” rating in a report on Tuesday, March 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $24.00.
Old Republic International 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.
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