Prana Capital Management LP acquired a new stake in shares of Old Republic International Co. (NYSE:ORI) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 147,822 shares of the insurance provider’s stock, valued at approximately $3,008,000. Old Republic International accounts for approximately 1.0% of Prana Capital Management LP’s investment portfolio, making the stock its 28th biggest holding. Prana Capital Management LP owned 0.06% of Old Republic International as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new stake in shares of Old Republic International during the 3rd quarter valued at $118,000. Bessemer Group Inc. bought a new position in Old Republic International in the 4th quarter worth about $145,000. DekaBank Deutsche Girozentrale increased its stake in Old Republic International by 78.3% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,999 shares of the insurance provider’s stock worth $155,000 after acquiring an additional 3,513 shares during the last quarter. Narus Financial Partners LLC bought a new position in Old Republic International in the 3rd quarter worth about $206,000. Finally, Moors & Cabot Inc. bought a new position in Old Republic International in the 3rd quarter worth about $206,000. Institutional investors own 73.51% of the company’s stock.
In other news, Director Glenn W. Reed acquired 5,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $20.43 per share, for a total transaction of $102,150.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.00% of the stock is currently owned by corporate insiders.
Old Republic International (NYSE:ORI) last posted its quarterly earnings data on Thursday, January 25th. The insurance provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.57 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period in the prior year, the business earned $0.43 EPS. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. equities analysts predict that Old Republic International Co. will post 1.7 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders 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 dividend yield of 3.67%. The ex-dividend date is Friday, March 2nd. Old Republic International’s dividend payout ratio is presently 36.97%.
ORI has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Old Republic International from a “sell” rating to a “hold” rating and set a $23.00 target price 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 equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $24.00.
TRADEMARK VIOLATION WARNING: This news story was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/03/12/147822-shares-in-old-republic-international-co-ori-purchased-by-prana-capital-management-lp.html.
About Old Republic International
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.
Receive News & Ratings for Old Republic International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Old Republic International and related companies with MarketBeat.com's FREE daily email newsletter.